AP Photo/Jenny Kane
- Wayfair stock plunged as much as 31% Thursday after the online furniture retailer said it lost 5 milion customers in 2022.
- Its 22.1 million active customers is closer to the count it had at the start of the COVID pandemic.
- Wayfair reported a wider loss for its most recent quarter.
Stock in Wayfair sank Thursday as the company posted a wider fourth-quarter loss and said it lost millions of customers during 2022, with the decline in customer traffic coming after the pandemic sparked a buying spree if furniture and other household goods.
Wayfair shares fell as much as 31% to $34.33 then pared the decline to 23%, closing at $38.33.