Share to twitterBoth Home Depot and Lowe's continue to outperform other retailers regardless of any slowdown in the housing market. The news this week from both Home Depot and Lowe’s earnings was not what either might have hoped for and certainly not what Wall Street wanted to hear.
Look at comp store sales, for instance. While both stores missed analyst forecasts, each showed surprising strength if you buy into the housing slowdown premise. Home Depot, the larger of the pair, registered a 3.2% increase in same-store sales, with customer transactions, average ticket size and sales per square foot all increasing.
All of this comes with some weird weather patterns for the quarter, never a good thing for businesses that depend on seasonal shifts to drive business. And a year ago, each retailer was getting some residual benefit from hurricane-driven rebuilding as well as major appliance market share gains. Both were not necessarily factors this time around.
Rumor is Home Depot hiring Vets and training them to build future housing for the disadvanated........
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