(NYSE: W) shareholders have had a volatile 2023 thanks to rapidly shifting sentiment around the e-commerce retailer's home furnishings business. The stock is down sharply over the past full year but rallied in early May after the company announced positive news on the earnings front.

Let's take a closer look at that report, and what it might mean for the stock in 2023 and beyond.

Wayfair is still working through a painful growth hangover driven by much lower demand for home furnishing and e-commerce spending. Sales in the Q1 period that ran through late March were down 7% to $2.8 billion. Wayfair's customer base shrank by 15% year over year, and its overall order volume declined by 7%.

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Source Fool.com