Home goods and furniture sales have been under pressure in the last couple of years, after enjoying something of a boom at the peak of the pandemic. Higher interest rates that have slowed home sales and inflation’s hit to discretionary spending have contributed to those declines.
In February, furniture and home goods sales fell 6.3% from last year, the category’s 12th straight quarter of declines, according to Wells Fargo analysts led by Zachary Fadem.
But that appears to be easing, at least somewhat. Wallet share of and growth in furnishings improved from January to February, Wells Fargo found.
