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

Equity Bottom-Up

<ul><li>Flexsteel led the news in the furniture and furnishings industry last week with a positive preannouncement.</li><li>The company said 2QFY24 EPS will be $0.57 versus preannouncement consensus of $0.27.</li><li>Sales are expected to hit $100 million in the quarter, ahead of the preannouncement consensus of $96 million.</li></ul>

Flexsteel led the news in the furniture and furnishings industry last week with a positive preannouncement.The company said 2QFY24 EPS will be $0.57 versus preannouncement consensus of $0.27.Sales are expected to hit $100 million in the quarter, ahead of the preannouncement consensus of $96 million.

Furniture/Furnishings Weekly - FLXS Announces Positive Surprise Ahead of Conference

Thematic (Sector/Industry)

<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>Furniture and furnishings stocks were nicely higher in the week, as the market rotated from larger, growth-oriented, and AI-driven stocks to smaller-cap, value-oriented issues.</li><li>The WTR Commercial/Contract Furniture Index (+4.4%), Residential Manufacturers &amp; Suppliers Index (+8.3%), and Home Goods Retailers Index (+8.1%) all had strong showings, reflecting the gains seen in the broader Russell 2000 (+5.4%).</li><li>The Mass Retailers Index fell (-0.4%), in line with the broader moves away from large-cap, technology-oriented stocks. </li></ul>

Furniture and furnishings stocks were nicely higher in the week, as the market rotated from larger, growth-oriented, and AI-driven stocks to smaller-cap, value-oriented issues.The WTR Commercial/Contract Furniture Index (+4.4%), Residential Manufacturers &amp; Suppliers Index (+8.3%), and Home Goods Retailers Index (+8.1%) all had strong showings, reflecting the gains seen in the broader Russell 2000 (+5.4%).The Mass Retailers Index fell (-0.4%), in line with the broader moves away from large-cap, technology-oriented stocks. 

Furniture/Furnishings Weekly - July 15, 2024

<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>Residential furniture stocks had a tough week over concerns about demand, though commercial furniture stocks fared better.</li><li>The Water Tower Research Commercial/Contract Furniture Index declined 0.5%, the Residential Manufacturers &amp; Suppliers Index fell 3.2%, and Home Goods Retailers declined 5.7%.</li><li>All three trailed the broader indexes (+0.2 to +0.5%) and the Mass Retailers Index (+1.7%). </li></ul>

Residential furniture stocks had a tough week over concerns about demand, though commercial furniture stocks fared better.The Water Tower Research Commercial/Contract Furniture Index declined 0.5%, the Residential Manufacturers &amp; Suppliers Index fell 3.2%, and Home Goods Retailers declined 5.7%.All three trailed the broader indexes (+0.2 to +0.5%) and the Mass Retailers Index (+1.7%). 

Furniture/Furnishings Weekly - July 1, 2024

United States

Flexsteel Industries, Inc. manufactures and sells wooden and upholstered furniture for the retail, contract, and recreational vehicle (RV) furniture markets. The Company's products are sold to furniture dealers, department stores, and RV manufacturers throughout the United States. Flexsteel also sells its products to several national chains that sell on a private label basis.

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Flexsteel Inds (FLXS US)

Furniture/Furnishings Weekly - FLXS Announces Positive Surprise Ahead of Conference

Flexsteel led the news in the furniture and furnishings industry last week with a positive preannouncement.The company said 2QFY24 EPS will be...

Water Tower Research

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 - July 15, 2024

Furniture and furnishings stocks were nicely higher in the week, as the market rotated from larger, growth-oriented, and AI-driven stocks to...

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 - July 1, 2024

Residential furniture stocks had a tough week over concerns about demand, though commercial furniture stocks fared better.

Water Tower Research

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