- Bed Bath & Beyond reported that in-store sales in Q2 2020 were up 6% and digital sales were up 80% (after nearly four consecutive years of same-store sales declines).
- Wayfair reported a quarterly profit in August for the first time since going public, with sales being up 84% year-over-year.
- Target reported during its second quarter earnings in August that sales of home goods were up more than 30% year-over-year, which helped contribute to comparable sales being up 24.3% year-over-year.
- Williams-Sonoma reported during its second quarter earnings that e-commerce sales were up 46%
Home improvement chains Lowe’s and Home Depot, as well as big-box and department stores with home goods sections like Walmart, Target, Kohl’s and Macy’s, also recorded similar gains.
Why it’s hot: Americans are spending more time at home since the start of the pandemic and more people are moving (to the suburbs) leading to increased spending on furniture, bedding, kitchenware, and all sorts of home goods and home improvement products/services.