Research from Water Tower Research, Water Tower Research

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.

Equity Research Firm

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<ul><li>Rotation into smaller-cap and value stocks continues.</li><li>The Water Tower Research Commercial/Contract Index (+1.2%) and Residential Manufacturers &amp; Suppliers Index (+2.4%) benefited, while the Home Goods Retailers Index (-2.1%) was weighed down, in part, by bankruptcy concerns for CONN.</li><li>The Mass Retailers Index (-2.4%) was affected by weakness in growth stocks, giant caps, and technology components of the market. </li></ul>

Rotation into smaller-cap and value stocks continues.The Water Tower Research Commercial/Contract Index (+1.2%) and Residential Manufacturers &amp; Suppliers Index (+2.4%) benefited, while the Home Goods Retailers Index (-2.1%) was weighed down, in part, by bankruptcy concerns for CONN.The Mass Retailers Index (-2.4%) was affected by weakness in growth stocks, giant caps, and technology components of the market. 

Furniture/Furnishings Weekly - Another Good Week for Stocks

<ul><li>In a holiday-shortened trading week (US Independence Day fell on a Thursday), larger-cap stocks outperformed smaller-cap stocks and the Water Tower Research Furniture/Furnishings indexes trailed the market.</li><li>For the week, the WTR Commercial/Contract Furniture Index (-1.2%), Residential Manufacturers &amp; Suppliers Index (-1.1%), and Home Goods Retailers Index (-3.1%) trailed the Mass Retailers Index (+2.2%) and the broader market indexes (-1.0% to +2.0%).</li><li>The US Federal Trade Commission (FTC) is officially seeking to prevent Tempur Sealy from acquiring Mattress Firm, citing concerns over corporate power and potential anti-competitive outcomes. </li></ul>

In a holiday-shortened trading week (US Independence Day fell on a Thursday), larger-cap stocks outperformed smaller-cap stocks and the Water Tower Research Furniture/Furnishings indexes trailed the market.For the week, the WTR Commercial/Contract Furniture Index (-1.2%), Residential Manufacturers &amp; Suppliers Index (-1.1%), and Home Goods Retailers Index (-3.1%) trailed the Mass Retailers Index (+2.2%) and the broader market indexes (-1.0% to +2.0%).The US Federal Trade Commission (FTC) is officially seeking to prevent Tempur Sealy from acquiring Mattress Firm, citing concerns over corporate power and potential anti-competitive outcomes. 

Furniture/Furnishings Weekly - Jul 8, 2024

<ul><li>The DJ30 closed above 40,000 for the first time ever.</li><li>Our Commercial/Contract Furniture Index (+2.3%) outperformed the broader market indexes (all three up +1.6%) and our Mass Retailers Index (+0.6%) last week.</li><li>Residential Manufacturers &amp; Suppliers (-3.8%) and Home Goods Retailers (-2.8%) trailed.</li></ul>

The DJ30 closed above 40,000 for the first time ever.Our Commercial/Contract Furniture Index (+2.3%) outperformed the broader market indexes (all three up +1.6%) and our Mass Retailers Index (+0.6%) last week.Residential Manufacturers &amp; Suppliers (-3.8%) and Home Goods Retailers (-2.8%) trailed.

Furniture/Furnishings Weekly - May 20, 2024

<ul><li>Furniture/furnishings stocks trailed the broader market.</li><li>The Water Tower Research Commercial/Contract Index (-1.7%), Residential Manufacturers &amp; Suppliers Index (-2.0%), and Home Goods Retailers Index (-2.0%) trailed the broader market indexes and the Mass Retailers Index (-1.3% to +1.3%) last week.</li><li>LOVE 1Q25 paints a picture of continued weakness in residential furniture even as the company appears to be continuing to gain share. </li></ul>

Furniture/furnishings stocks trailed the broader market.The Water Tower Research Commercial/Contract Index (-1.7%), Residential Manufacturers &amp; Suppliers Index (-2.0%), and Home Goods Retailers Index (-2.0%) trailed the broader market indexes and the Mass Retailers Index (-1.3% to +1.3%) last week.LOVE 1Q25 paints a picture of continued weakness in residential furniture even as the company appears to be continuing to gain share. 

INDUSTRY REPORT - Furniture/Furnishings Weekly

<ul><li>A rough week for smaller-cap stocks without AI exposure.</li><li>The WTR Commercial/Contract Furniture Index (-6.9%), Residential Manufacturers &amp; Suppliers Index (-1.4%), and Home Goods Retailers Index (-1.3%) underperformed the Dow (+1.2%), S&amp;P 500 (+1.2%), and Mass Retailers Index (+1.9%), all of which benefited from the growing AI hype this week.</li><li>This performance seems to be partly due to the overall weakness of small caps, with the Russell 2000 clocking in (-1.7%).</li></ul>

A rough week for smaller-cap stocks without AI exposure.The WTR Commercial/Contract Furniture Index (-6.9%), Residential Manufacturers &amp; Suppliers Index (-1.4%), and Home Goods Retailers Index (-1.3%) underperformed the Dow (+1.2%), S&amp;P 500 (+1.2%), and Mass Retailers Index (+1.9%), all of which benefited from the growing AI hype this week.This performance seems to be partly due to the overall weakness of small caps, with the Russell 2000 clocking in (-1.7%).

Furniture/Furnishings Weekly - June 10, 2024

United States

Sleep Number Corporation designs, manufactures, and markets a line of air bed mattresses. The Company provides a variety of beds, bedding, pillows, mattress pads and layers, sheets, duvets, bed skirts, bases, furniture, bed accessories, and kids blankets. Sleep Number serves customers in the United States.

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Select Comfort (SNBR US)

Furniture/Furnishings Weekly - Another Good Week for Stocks

The Mass Retailers Index (-2.4%) was affected by weakness in growth stocks, giant caps, and technology components of the market.

Water Tower Research

Furniture/Furnishings Weekly - Jul 8, 2024

In a holiday-shortened trading week (US Independence Day fell on a Thursday), larger-cap stocks outperformed smaller-cap stocks

Water Tower Research

Furniture/Furnishings Weekly - May 20, 2024

Our Commercial/Contract Furniture Index (+2.3%) outperformed the broader market indexes (all three up +1.6%) and our Mass Retailers Index (+0.6%)...

Water Tower Research

INDUSTRY REPORT - Furniture/Furnishings Weekly

The Water Tower Research Commercial/Contract Index (-1.7%), Residential Manufacturers & Suppliers Index (-2.0%), and Home Goods Retailers Index (...

Water Tower Research

Furniture/Furnishings Weekly - June 10, 2024

The WTR Commercial/Contract Furniture Index (-6.9%), Residential Manufacturers & Suppliers Index (-1.4%), and Home Goods Retailers Index (-1.3%)...

Water Tower Research

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