Arhaus: Down On An Adjusted Basis And Does Not Deserve Its Valuation

Company Performance - Arhaus, Inc. (NASDAQ: ARHS) reported Q2 2025 results that appear strong on a GAAP basis, but underlying metrics indicate persistent challenges since 2023 [1] - The company is not experiencing growth, reflecting ongoing operational difficulties [1] Investment Perspective - The analysis emphasizes a long-only investment approach, focusing on operational aspects and long-term earnings potential rather than market-driven dynamics [1] - The majority of investment calls are expected to be holds, indicating a cautious stance towards new buys [1]