Month: August 2020

Equities Advance As Consumers Embrace Home Improvement

With U.S. indices near all-time highs, this week’s focus continues to be on the consumer and existing trends that have developed throughout the pandemic. We closed last week with better-than-expected economic data, and this morning there’s some optimism related to efforts from the President to combat the coronavirus.

HD), Lowe’s Companies Inc (NYSE: LOW), Target Corporation (NYSE: TGT), and homebuilders amidst this rush to more desirable living conditions. This week, we’ll get further insight as to how retailers managed pandemic conditions. Keep an eye on quarterly results from Dick’s Sporting Goods Inc (NYSE: DKS), Best Buy Co Inc (NYSE: BBYUlta Beauty Inc (NASDAQ: ULTA), Dollar Tree, Inc. (NASDAQ: DLTR), Dollar General Corp (NYSE: DG), and Toll Brothers Inc (NYSE: TOL) to name a few.” data-reactid=”20″With the trend of people being forced to stay at home,

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These 2 home improvement stocks are up 30% this year. They’re still a buy

during quarantine and tackling those home-improvement projects. And investors seem equally eager to build a foundation for big gains on the resurgence of DIY.” data-reactid=”19″By the look of it, Americans have been rolling up their sleeves during quarantine and tackling those home-improvement projects. And investors seem equally eager to build a foundation for big gains on the resurgence of DIY.

Home Depot and Lowe’s have seen a huge boost to sales—and their stocks—in the past several months.” data-reactid=”20″With people spending a lot more time indoors, it’s no surprise home-improvement retailers Home Depot and Lowe’s have seen a huge boost to sales—and their stocks—in the past several months.

impressive second-quarter earnings, with profits soaring 24.5% year over year to $4.3 billion, while sales came in at $38.1 billion. And Bank of America analysts believe it “will not be the last of [Home Depot]’s strong run,” they

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Lowe’s beats sales expectations as home improvement spending surges

By Uday Sampath Kumar

(Reuters) – Lowe’s Cos Inc blew past analysts’ estimates for quarterly sales and profit on Wednesday as it benefited from a surge in demand for paint, tools and barbecue grills from consumers stuck at home due to the COVID-19 pandemic.

The company also posted a 34.2% rise in quarterly same-store sales, beating analysts’ estimates for a 13.2% increase, and said the sales momentum was carrying into August, although it would likely taper off in later months.

With a large base of do-it-yourself customers, Lowe’s has been among the chief beneficiaries of people undertaking minor home repair, painting or gardening work during the crisis.

That helped the company’s same-store sales far outpace those of larger rival Home Depot Inc , which relies more on demand from handymen and professional contractors, whose businesses have only recently started to pick up.

Wedbush Securities analysts estimate that nearly 75% of

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Home Depot Q2 Sales Jump Over 23% Amid COVID-19 Restrictions; Target $320

Home Depot Inc, the largest home improvement retailer in the United States, reported sales of $38.1 billion for the second quarter of fiscal 2020, a 23.4% increase from a year earlier as consumers ordered more home improvement products amid COVID-19 restrictions, sending its shares up about 3% in pre-market trading on Tuesday.” data-reactid=”19″Home Depot Inc, the largest home improvement retailer in the United States, reported sales of $38.1 billion for the second quarter of fiscal 2020, a 23.4% increase from a year earlier as consumers ordered more home improvement products amid COVID-19 restrictions, sending its shares up about 3% in pre-market trading on Tuesday.

The home improvement retailer said its net earnings for the second quarter of fiscal 2020 were $4.3 billion, or $4.02 per diluted share, compared with net earnings of $3.5 billion, or $3.17 per diluted share, a year earlier.

For the second

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