Tariffs Are Tumbling, AI Is Rising, and Furniture Sales Just Woke Up

Originally published May 9, 2025. This version was rebuilt from a White House fact sheet, Census, and Somnigroup, Arhaus and QVC Group results for the FIN archive, and the facts are as of that date.

The second week of May 2025 brought the first trade deal of the tariff era and a set of first-quarter results that split along price lines.

The short version

• The U.S.-U.K. deal kept the 10% reciprocal rate in place.
• Census showed March furniture store sales up 7.7% from a year earlier.
• Somnigroup's net sales rose 34.9% with Mattress Firm included.
• Arhaus net revenue rose 5.5% and QVC Group's revenue fell 10%.

A deal with the U.K.

The White House said the U.S.-U.K. deal kept the 10% reciprocal rate and set an alternative arrangement for U.K. autos. The U.K. is a small furniture supplier, but the deal was the first sign of how other negotiations might end.

Furniture sales

The Census Bureau's advance estimate showed March sales at furniture and home furnishings stores down 0.7% from February but up 7.7% from a year earlier.

Mattress consolidation shows up

Somnigroup, the parent of Tempur Sealy, said first-quarter net sales rose 34.9% to $1,604.7 million, mostly because the results included $593.7 million of Mattress Firm sales after the acquisition closed in February.

High end grows, TV shopping slips

Arhaus reported net revenue up 5.5% to $311 million, with comparable growth of minus 1.5% but demand comparable growth of 4.1%.

QVC Group said revenue fell 10% to $2,105 million, and its CEO cited declining TV viewership and tariff volatility hurting consumer sentiment.

Split results

Bigger, consolidated companies and premium brands were growing. Channels tied to older habits, like TV shopping, were shrinking.

Related on FIN

• Follow the Tariff Dollars
• Furniture Sales Rose. Costs Are Rising Faster.

Sources

• The White House, Fact sheet on the U.S.-UK trade deal (May 8, 2025)
• U.S. Census Bureau, Advance monthly retail sales, March 2025
• Somnigroup International, First quarter 2025 results (SEC filing)
• Arhaus, First quarter 2025 results (SEC filing)
• QVC Group, First quarter 2025 results