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Arhaus promotional email ‘concerning,’ says Jefferies

Arhaus promotional email ‘concerning,’ says Jefferies

After having received a promotional email from Arhaus (ARHS) referencing 20% off greater than $5,000 purchases, Jefferies said this is “concerning to us for three reasons.” Namely, the promotion is elevated compared to last year; it is a notable uptick in depth compared to recent promotions; and given that the firm sees most peers holding their discounting depth/breadth, Jefferies views the less-disciplined posture here as “a direct reaction to elevated clearance” at rival RH (RH). The firm has a Hold rating and $12 price target on Arhaus shares.

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