Shares of Wayfair were rallying toward a more than one-year high amid signs that the worst in the furniture market may be over.

Wayfair posted its best quarter since the pandemic-era furniture boom, continuing to buck the category’s weak performance. The online furniture retailer’s second-quarter net revenue rose 5% from a year ago,

What Happened? Shares of online home goods retailer Wayfair (NYSE:W) jumped 11.9% in the afternoon session after the company reported strong second-quarter financial results that surpassed analyst expectations for both sales and profit.