The pandemic restricted people to their homes and many made the best of this opportunity by remodeling their homes and taking up pending home improvement projects. The recent blockbuster results of home improvement retailers Home Depot and Lowe’s clearly indicated the shift in consumers’ discretionary spending from apparel buying and restaurant dining to home goods.
Using the TipRanks’ Stock Comparison tool, we will place the two home retailers alongside each other to see which stock offers the most compelling investment opportunity right now.
Home Depot (HD)
Home Depot, which operates 2,293 stores, benefited immensely from the rise in demand from DIY (do-it-yourself) customers as they took up deck building, painting, and home repairs amid the pandemic. Sales to Pro customers grew double digits.
The company’s sales for the fiscal second quarter (ended August 2) rose 23.4% to $38.1 billion as overall comparable sales or comps surged 23.4% with