U.S. Hardlines Retail: Highlights from an Expert Call on Farm, Ranch & Home Retail

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U.S. Hardlines Retail: Highlights from an Expert Call on Farm, Ranch & Home Retail

Global Research

13 July 2026ab

U.S. Hardlines Retail Equities

AmericasHighlights from an Expert Call on Farm, Ranch &

Home Retail Retailers, Broadline

Michael Lasser

Analyst

michael.lasser@ubs.com

Our take: The farm & ranch industry saw stable trends in 2Q, driven by +1-212-713 2440

favorable weather in certain geographies.

Sachin Verma

We hosted an expert call with the CEO of a leading cooperative in the farm, ranch and Associate Analyst

home retail industry. According to the expert, the cooperative's members experienced sachin.verma@ubs.com

comparable store sales growth of 2% to 4% in the second quarter, largely driven by +1-212-713 3492

favorable weather trends in geographies such as the Midwest and central US. This Mark Carden

translated to the first half of the year being up in the same 2% to 4% range. The Analyst

ongoing geopolitical tension and elevated oil prices translated to a modest sequential mark.carden@ubs.com

deceleration in June, as the consumer remained cautious and focused on needs-based +1-212-713 3218

items. Plus, the expert noted that the first couple weeks of July looked similar to June. Dan Silverstein

Looking ahead, the expert's outlook for the back half of the year calls for growth in the Analyst

3% to 5% range, assuming normal weather conditions. Although, the impact of tariffs, daniel.silverstein@ubs.com

inflation in the industry, and a potential Super El Nino could create some uncertainties. +1-212-713 2459

Mathew Rothway

Additional takeaways included: Analyst

mathew.rothway@ubs.com

The expert noted some variability from a geographic perspective. Specifically, the +1-212-713 5000

central US and the Midwest region saw a favorable start to the spring season.