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Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>The tariff pause that refreshes? The administration’s decision to pause some tariffs during negotiations helped the broader market and residential furnishings stocks, but not the office furniture or home goods retailers.</li><li>The WTR Commercial/Contract Furniture Index declined 1.8% and the Home Goods Retailers Index fell 1.5%, while the residential Manufacturers &amp; Suppliers Index rose 1.1%. The large-cap indices were up 2.0%, while the R2K rose 1.0%.</li><li>Ask not for whom the bell tolls, it tolls for thee. References to GenAI in the press and social media continue to grow rapidly (1), as shown in Figure 1</li></ul>

The tariff pause that refreshes? The administration’s decision to pause some tariffs during negotiations helped the broader market and residential furnishings stocks, but not the office furniture or home goods retailers.The WTR Commercial/Contract Furniture Index declined 1.8% and the Home Goods Retailers Index fell 1.5%, while the residential Manufacturers &amp; Suppliers Index rose 1.1%. The large-cap indices were up 2.0%, while the R2K rose 1.0%.Ask not for whom the bell tolls, it tolls for thee. References to GenAI in the press and social media continue to grow rapidly (1), as shown in Figure 1

Furniture/Furnishings Weekly GenAI Coming for the Professions...

<ul><li>De-escalatory movement on tariff policy benefited furniture and furnishings stocks.</li><li>The WTR Commercial/Contract Furniture Index was up 6.5%, the Residential Manufacturers &amp; Suppliers Index was up 2.1%, and the Home Goods Retailers Index was up 2.0%, beating the large- cap indices and the R2K.</li><li>From modernism to hygge and eco-consciousness at IKEA (1). The core business model remains the same (edited vignettes to showcase design and make it easy to outfit an entire house, ready-to-assemble furniture to cut down on logistics and manufacturing costs), but as FT’s architecture and design critic notes, the aesthetics continue to evolve, tracking important social and generational shifts.</li></ul>

De-escalatory movement on tariff policy benefited furniture and furnishings stocks.The WTR Commercial/Contract Furniture Index was up 6.5%, the Residential Manufacturers &amp; Suppliers Index was up 2.1%, and the Home Goods Retailers Index was up 2.0%, beating the large- cap indices and the R2K.From modernism to hygge and eco-consciousness at IKEA (1). The core business model remains the same (edited vignettes to showcase design and make it easy to outfit an entire house, ready-to-assemble furniture to cut down on logistics and manufacturing costs), but as FT’s architecture and design critic notes, the aesthetics continue to evolve, tracking important social and generational shifts.

Furniture/Furnishings Weekly: Trendspotting at IKEA; Time for Some (Tariff Policy) Game Theory

<ul><li>Markets rebound on optimism regarding tariff negotiations as furniture and furnishings stocks outperform.</li><li>The WTR Commercial/Contract Furniture index was up +3.1%, the Residential Manufacturers &amp; Suppliers index increased +4.1%, and the Home Goods Retailers index improved +5.4% for the week, beating both large caps +2.9% and the R2K +2.8%</li><li><p>Long suffering housing markets aren’t getting better anytime soon as increasing economic uncertainty bites (1). </p></li></ul>

Markets rebound on optimism regarding tariff negotiations as furniture and furnishings stocks outperform.The WTR Commercial/Contract Furniture index was up +3.1%, the Residential Manufacturers &amp; Suppliers index increased +4.1%, and the Home Goods Retailers index improved +5.4% for the week, beating both large caps +2.9% and the R2K +2.8%Long suffering housing markets aren’t getting better anytime soon as increasing economic uncertainty bites (1). 

Furniture/Furnishings Weekly: Housing Doldrums; Consumer Trepidation

<ul><li>Market retracement as policy volatility remains high.</li><li>The WTR Commercial/Contract Furniture Index was up 4.8%, the Residential Manufacturers &amp; Suppliers Index was up 4.9%, and the Home Goods Retailers Index improved by 9.7% as the broader indices surged higher.</li><li>Gen Z pushing for Return-to-Office (1). Over the past year, many firms have begun pushing harder for employees to return to the office in order to enhance corporate culture, improve learning and networking opportunities for employees, and enhance organizational agility and innovation.</li></ul>

Market retracement as policy volatility remains high.The WTR Commercial/Contract Furniture Index was up 4.8%, the Residential Manufacturers &amp; Suppliers Index was up 4.9%, and the Home Goods Retailers Index improved by 9.7% as the broader indices surged higher.Gen Z pushing for Return-to-Office (1). Over the past year, many firms have begun pushing harder for employees to return to the office in order to enhance corporate culture, improve learning and networking opportunities for employees, and enhance organizational agility and innovation.

Furniture/Furnishings Weekly: Gen Z Pushes RTO; Chinese Imports Drop

<ul><li>Policy/tariff volatility, stock and bond market volatility, falling consumer and business confidence, stagflation fears, higher interest rates, tariffs, inflation concerns, and worries that the US may already be in a recession have dominated the headlines over the past week.</li><li>The WTR Commercial/Contract Furniture Index was up 0.4%, the Residential Manufacturers &amp; Suppliers Index was up 2.9%, and the Home Goods Retailers Index was up 1.5% as the broader markets rebounded as well, with the S&amp;P 500 and Dow 30 gaining 5.9% and the R2K up 2.6%</li><li><p>The Atlanta Fed suggests that the US may be in recession already (Figure 1), at least according to its GDPNow model, which aims to provide something closer to a real-time read on the state of the economy (1).</p></li></ul>

Policy/tariff volatility, stock and bond market volatility, falling consumer and business confidence, stagflation fears, higher interest rates, tariffs, inflation concerns, and worries that the US may already be in a recession have dominated the headlines over the past week.The WTR Commercial/Contract Furniture Index was up 0.4%, the Residential Manufacturers &amp; Suppliers Index was up 2.9%, and the Home Goods Retailers Index was up 1.5% as the broader markets rebounded as well, with the S&amp;P 500 and Dow 30 gaining 5.9% and the R2K up 2.6%The Atlanta Fed suggests that the US may be in recession already (Figure 1), at least according to its GDPNow model, which aims to provide something closer to a real-time read on the state of the economy (1).

Furniture/Furnishings Weekly Recession Fears, Higher Rates, Tariffs...

United States

Bassett Furniture Industries, Incorporated manufactures and sells a full line of furniture for the home.  The Company offers bedroom and dining suites, occasional tables and entertainment units, upholstered sofas and love seats, recliners, and mattresses, among other products.  Bassett's products are sold through retailers, including Bassett Furniture Direct.

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Bassett Furniture Inds (BSET US)

Furniture/Furnishings Weekly GenAI Coming for the Professions...

The administration’s decision to pause some tariffs during negotiations helped the broader market and residential furnishings stocks, but not the...

Water Tower Research

Furniture/Furnishings Weekly: Trendspotting at IKEA; Time for Some (Tariff Policy) Game Theory

The WTR Commercial/Contract Furniture Index was up 6.5%, the Residential Manufacturers & Suppliers Index was up 2.1%, and the Home Goods Retailers...

Water Tower Research

Furniture/Furnishings Weekly: Housing Doldrums; Consumer Trepidation

The WTR Commercial/Contract Furniture index was up +3.1%, the Residential Manufacturers & Suppliers index increased +4.1%, and the Home Goods...

Water Tower Research

Furniture/Furnishings Weekly: Gen Z Pushes RTO; Chinese Imports Drop

The WTR Commercial/Contract Furniture Index was up 4.8%, the Residential Manufacturers & Suppliers Index was up 4.9%, and the Home Goods Retailers...

Water Tower Research

Furniture/Furnishings Weekly Recession Fears, Higher Rates, Tariffs...

Policy/tariff volatility, stock and bond market volatility, falling consumer and business confidence, stagflation fears, higher interest rates,...

Water Tower Research

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