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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>A down week for furniture and furnishings stocks amid a broader small-cap pullback against a background of increased policy uncertainty.</li><li>The WTR Commercial/Contract Furniture Index declined 4%, the Residential Manufacturers &amp; Suppliers Index fell 2.3%, and the Home Goods Retailers Index fell 10.1%, while the broader market indexes declined 1.7% and the R2K fell 3.6%.</li><li>The administration’s plans to target Chinese shipbuilding could increase costs for importers.</li></ul>

A down week for furniture and furnishings stocks amid a broader small-cap pullback against a background of increased policy uncertainty.The WTR Commercial/Contract Furniture Index declined 4%, the Residential Manufacturers &amp; Suppliers Index fell 2.3%, and the Home Goods Retailers Index fell 10.1%, while the broader market indexes declined 1.7% and the R2K fell 3.6%.The administration’s plans to target Chinese shipbuilding could increase costs for importers.

Furniture/Furnishings Weekly - Chinese Shipbuilding Targeted; IKEA Update

<ul><li>Tariffs and policy uncertainty don’t seem to be weighing down stocks in the furniture and furnishings space at this point.</li><li>The WTR Commercial/Contract Furniture Index was up 3.2%, the Residential Manufacturers &amp; Suppliers Index gained 6.4%, and the Home Goods Retailers Index was up 1.2%, all better than the broader market indexes.</li><li>The US imposed across-the-board 25% tariffs on steel and aluminum.</li></ul>

Tariffs and policy uncertainty don’t seem to be weighing down stocks in the furniture and furnishings space at this point.The WTR Commercial/Contract Furniture Index was up 3.2%, the Residential Manufacturers &amp; Suppliers Index gained 6.4%, and the Home Goods Retailers Index was up 1.2%, all better than the broader market indexes.The US imposed across-the-board 25% tariffs on steel and aluminum.

Furniture/Furnishings Weekly - Steel and Aluminum Tariffs; Return-To-Work Enforcement, Realities

<ul><li>Policy uncertainty has increased investor uncertainty since the election and that overhang continues to weigh on the markets as investors are unclear on how issues like regulatory reform, spending, and tariffs will play out.</li><li>The WTR Commercial/Contract Furniture Index was up 2.5% and the Home Goods Retailers Index was up 1.5%, while the Residential Manufacturers &amp; Suppliers Index dipped 0.4% as the broader market indexes all moved higher.</li><li>Higher volatility is expected.</li></ul>

Policy uncertainty has increased investor uncertainty since the election and that overhang continues to weigh on the markets as investors are unclear on how issues like regulatory reform, spending, and tariffs will play out.The WTR Commercial/Contract Furniture Index was up 2.5% and the Home Goods Retailers Index was up 1.5%, while the Residential Manufacturers &amp; Suppliers Index dipped 0.4% as the broader market indexes all moved higher.Higher volatility is expected.

Furniture/Furnishings Weekly - Work-From-Home Equilibria

<ul><li>Stocks continue to gain, even if only modestly, in much of the furniture and furnishings space, as the markets continue to digest the impact of the new administration’s policies.</li><li>The Water Tower Research Commercial/Contract Furniture Index was up 0.2%, the Residential Manufacturers &amp; Suppliers Index was up 0.2%, and the Home Goods Retailers Index was up 3.1%, while the large-cap indexes were up 1.7% and the R2K gained 1.5%.</li><li>Furniture imports from Mexico and Canada facing potential tariffs as Trump appears to be using tariff threat (for now) to exact concessions and policy changes from USMCA partners.</li></ul>

Stocks continue to gain, even if only modestly, in much of the furniture and furnishings space, as the markets continue to digest the impact of the new administration’s policies.The Water Tower Research Commercial/Contract Furniture Index was up 0.2%, the Residential Manufacturers &amp; Suppliers Index was up 0.2%, and the Home Goods Retailers Index was up 3.1%, while the large-cap indexes were up 1.7% and the R2K gained 1.5%.Furniture imports from Mexico and Canada facing potential tariffs as Trump appears to be using tariff threat (for now) to exact concessions and policy changes from USMCA partners.

Furniture/Furnishings Weekly -  Thinking Through Mexico and Canada Tariff Implications

<ul><li>Furniture and furnishings stocks moved sharply higher, as a small-cap rotation on top of generally positive sentiments dominated trading, in what is likely an anticipation of economic gains from the new administration’s policies.</li><li>The Water Tower Research Commercial/Contract Furniture Index was up 5.2%, the Residential Manufacturers &amp; Suppliers Index was up 7.2%, and the Home Goods Retailers Index was up 4.0%, while the large- cap indexes gained 2.7% and the R2K was up 3.8%.</li><li><span style="font-size: var(--content-font-size);">ARHS noted (1) its 4Q24 comps sales were up 6%, </span>reversing the “low single-digit declines” seen in October.</li></ul>

Furniture and furnishings stocks moved sharply higher, as a small-cap rotation on top of generally positive sentiments dominated trading, in what is likely an anticipation of economic gains from the new administration’s policies.The Water Tower Research Commercial/Contract Furniture Index was up 5.2%, the Residential Manufacturers &amp; Suppliers Index was up 7.2%, and the Home Goods Retailers Index was up 4.0%, while the large- cap indexes gained 2.7% and the R2K was up 3.8%.ARHS noted (1) its 4Q24 comps sales were up 6%, reversing the “low single-digit declines” seen in October.

Furniture/Furnishings Weekly - ARHS 4Q Comps Up, Time at Home Up

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 - Chinese Shipbuilding Targeted; IKEA Update

A down week for furniture and furnishings stocks amid a broader small-cap pullback against a background of increased policy uncertainty.

Water Tower Research

Furniture/Furnishings Weekly - Steel and Aluminum Tariffs; Return-To-Work Enforcement, Realities

Tariffs and policy uncertainty don’t seem to be weighing down stocks in the furniture and furnishings space at this point. The WTR...

Water Tower Research

Furniture/Furnishings Weekly - Work-From-Home Equilibria

The WTR Commercial/Contract Furniture Index was up 2.5% and the Home Goods Retailers Index was up 1.5%, while the Residential Manufacturers &...

Water Tower Research

Furniture/Furnishings Weekly - Thinking Through Mexico and Canada Tariff Implications

Stocks continue to gain, even if only modestly, in much of the furniture and furnishings space, as the markets continue to digest the impact of the...

Water Tower Research

Furniture/Furnishings Weekly - ARHS 4Q Comps Up, Time at Home Up

Furniture and furnishings stocks moved sharply higher, as a small-cap rotation on top of generally positive sentiments dominated trading

Water Tower Research

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