US Home Furnishings: Pricing Update for June: Still Elevated

Research evidence excerpt

US Home Furnishings: Pricing Update for June: Still Elevated

Equity Research

8 July 2026

US Home Furnishings

Pricing Update for June: Still

Elevated

Price increases y/y for WSM were stable in June, tracking U.S. Broadlines, Hardlines & Food Retail

~LSD y/y as it cycles changes last year, while ARHS/RH remain NEUTRAL

elevated at +HSD y/y. Shipping/delivery fees have also moved U.S. Broadlines, Hardlines & Food

Retail

higher. Implications positive for sales/margins. Seth Sigman

+1 212 526 7417

seth.sigman@barclays.com

What’s incremental: Our monthly pricing analysis shows WSM's price changes were stable,

BCI, US

tracking +2.6% y/y in June, similar to May but down from prior months. ARHS prices were +7.7%

y/y in June (vs 6.1% in May), as it still hasn’t lapped its big increases last year (it raised later). RH Oliver Hu

+1 212 526 6180prices were up 9.4% y/y (vs 9.0% in May) although effective prices have been up less due to

oliver.hu@barclays.com

promotions. ARHS and WSM seemed to raise delivery fees modestly, coinciding with higher fuel

costs; ARHS increased its flat rate delivery fee by $50 (the first time since 2022) and PB raised

next day fees by $1-3 (it had raised white glove delivery last month). Serena E Shalam

+1 212 526 3492

Key message: Our take is positive as pricing seems strong, still contributing y/y, while demand serena.shalam@barclays.com

at the high end of the market is healthy, even as housing remains pressured (as evidenced by BCI, US

WSM's positive volume in Q1). For margins, the take is also positive as tariff pressures likely Data Science & Applied AI

peaked in 4Q25 and these costs should be averaging much lower in Q2, while prices are elevated Haviland Sheldahl-Thomason(iv)

and there have been few rollbacks per our analysis.