The year has been good for furniture sales. Data from the census bureau reflects impressive growth during the first half of the year compared with sales. Additionally, as the holiday season warms up, retailers are banking on home decoration purchases to act as a trigger for furniture sales.
Meanwhile, the commercial real estate market is buzzing with activity. There are indications that the sector will continue to enjoy favorable trends going forward. This means that furniture for commercial use will also experience an uptrend in sales.
This is why this may be a good time to add stocks of furniture companies to your portfolio. This represents an increase of 6. Sales in January were Meanwhile, the fortunes of the largest furniture stores continue to improve. Recently, Deloitte's 30th annual holiday survey indicated that sales for holiday decorations are set to increase this time around.
The survey was conducted between Sep 11 and 22 this year. According to its findings, expenditure on decorations, gifts and socializing are set to increase The research agency is of the view that an increase in entertaining will lead to a rise in purchases of home accessories. This, in turn, is expected to fuel growth in several types of home furnishing items. Market watchers expect this trend to ultimately lead to higher sales for high value furniture items. Sales for such goods typically peak at this time of the year.
This is why home furniture retailers such as Restoration Hardware Holdings, Inc. RH and Williams-Sonoma Inc. WSM are sparing no effort to push sales of high value items. The Urban Land Institute ULI Center for Capital Markets and Real Estate's latest three-year projections indicate that the commercial real estate market will experience a favorable environment for growth up to Meanwhile, the housing market continues to display strength.
Data from the sector has shown steady growth on the whole. The reason for this is the slump in oil prices , leading to an increase in disposable income. Additionally, the labor market has shown significant improvement though the slow pace of wage growth is still worrying. More importantly, data from the U. Census Bureau reaffirms these indications.
Additionally, the real estate market continues to show signs of strength, both on the commercial and housing front. This is why it may be a good idea to zero in on furniture stocks for your portfolio.
We have narrowed down our search based on a good Zacks Rank and other relevant metrics. HOFT is a leading manufacturer and importer of residential furniture, primarily targeted at the upper-medium price range. VIRC designs, produces, and distributes quality furniture for the contract and education markets worldwide. DOOR is a designer and manufacturer of interior and exterior doors.
The earnings estimate for the current year has increased by 2. Stanley Furniture Company, Inc. STLY is a designer and manufacturer of residential wood furniture. The earnings estimate for the current year has increased by Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Holiday Season to Boost Furniture Sales Recently, Deloitte's 30th annual holiday survey indicated that sales for holiday decorations are set to increase this time around.
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