InDEPTH | MIXED SIGNALS IN THE MARKETPLACE
Outlook: Wayfair said Q2 marked its best growth and profitability since 2021, with confidence in continued profit- able share gains for 2025. WILLIAMS-SONOMA, INC. San Francisco, CA Quarter snapshot: Q2 2025 revenues $1.84 billion, comps +3.7-percent; net earnings $247.6 million. Category performance: Growth was balanced across furniture and non-furniture categories, including rugs in Pottery Barn and West Elm assortments. Inventories rose 17.7-percent to $1.4 billion, partly to offset tariffs. “ The second quarter was a resounding success, defined by accelerating sales and share gain, in tandem with expanding profitability, “ said Niraj Shah, CEO. “ Our strong second-quarter results reflect both robust demand across our brands and disciplined execution that positions us to capture continued market share in a recovering home furnishings environment, “ said Laura Alber, president and CEO. Outlook: Williams-Sonoma raised its FY revenue outlook from +0.5-percent to +3.5-percent, with comps expected to grow 2-percent–5-percent and margins of 17.4-17.8-percent, while monitoring tariffs as a risk factor. MACY’S, INC. New York, NY Quarter snapshot: Q2 2025 net sales $4.81 billion (down 2-5-percent year-over-year), comparable-store sales up 0.8-percent on a company-owned basis (and +1.9-percent including licensed and marketplace); adjusted EPS $0.41, well above expectations; net income $87 million Category performance: Macy’s did not break out area rug or home décor sales specifically. However, comparable sales gains at its “Reimagine” 125 locations, Bloomingdale’s, and Bluemercury suggest continued strength in home-adjacent categories and lifestyle assortments. Outlook: Macy’s raised its full-year adjusted EPS guidance to $1.70–$2.05 (from previous $1.60–$2.00) and lifted its net sales outlook to $21.15–$21.45 billion, acknowledging ongoing tariff pressure but expressing growing confidence in its turnaround strategy.
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“ Our teams achieved better than expected top- and bottom-line results during the second quarter, driven by our strongest comparable sales growth in 12 quarters…Our performance highlights the advantages of being a multi-brand, multi-category, omni-channel retailer. The substantive, enterprise-wide improvements across our business, with a strong focus on customer experience, give us further confidence that our Bold New Chapter initiatives can drive sustainable, long-term profitable growth, “ said Tony Spring, Chairman and CEO.
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