You can sort your emails, in your inbox and other folders, by Sender, by Subject, or by the date it was received. Each tab along the top of the inbox will sort it by the different categories:
From: This will sort all the emails by sender, grouping together emails from particular addresses
Subject: This will sort all the emails by the different subject lines of each email, grouping together emails with similar subject lines. E.g. All emails in your inbox with the subject "Cats" will be grouped together, where as all emails with the subject line "Dogs" will be grouped separately
Received: This will sort all emails in your inbox in chronological order, listing the most recent emails at the top and the oldest emails at the bottom.
The functionality to sort the mailbox does not exist in the Mobile version of Webmail. By default Webmail Mobile sorts the messages by newest first.