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Improvement Giants

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  • Improvement Giants

    FYI: Business Week: “Home Depot And Lowe's Get Hammered! Sagging Earnings Reports Suggest It Will Take More Than Stimulus Checks to Revive America's Home-Improvement Giants”

    "Consumers are pulling in their horns, as rising oil and food prices team up with credit woes to eat into their disposable income.
    The combination has proved deadly for the two giants of home improvement. Investors took one look at their dismal sales and earnings reports on May 19 and 20 and began dumping shares. Home Depot's stock price fell almost 6% over the two days, while Lowe's shares lost more than 4%. The housing downturn set off a dismal chain reaction for the home-improvement industry. Customers and investors have criticized Home Depot for weak customer service, especially compared with Lowe's. Home Depot says it is making strides reorganizing operations while improving service. Some analysts praised management for cutting back on promotional activity that wasn't working."