Could Home Depot’s sales miss hint at a cooling housing market?

Could Home Depot’s sales miss hint at a cooling housing market?


>>DAGEN: HOME DEPOT SAME STORE SALES COMING IN LOWER THAN PROJECTED IN ITS MOST RECENT QUARTERLY EARNINGS REPORT, THE FIRST TIME HOME DEPOT FAILED TO BEAT SALES ESTIMATES IN NEARLY TWO YEARS. COULD THIS MISS HINT AT A COOLING HOUSING MARKET. JOINING US NOW IS ROGER HEELY. GOOD TO SEE YOU. WHAT’S YOUR TAKE ON THIS?>>GOOD TO SEE YOU. WE’RE FINE. I THINK THAT– [ LAUGHTER ]>>I’VE GOT MULTIPLE THEORIES ON THIS. WE HAD A VERY COLD AND WET SPRING. YOU CAN’T GO BUILD WHEN YOU CAN’T GO BUILD ON DRY LAND. NUMBER TWO, REAL ESTATE PRICES HAVE CONTINUED TO INCREASE, RIGHT, SO A LOT OF PEOPLE THAT WERE LEANING TOWARDS PURCHASING SOMETHING NEW PROBABLY HAVE LEANED NOW TOWARDS RENOVATING THEIR CURRENT PROPERTY. THIRD THEORY. HOME DEPOT IS KNOWN FOR DOING A LOT OF MULTIFAMILY, PEOPLE PURCHASE TO DO MULTIFAMILY BUILDS. THE PRICE OF HAPPENED HAS INCREASED SO MUCH THAT PEOPLE ARE STARTING TO SLOW DOWN. IT’S A LOT OF FACTORS. BUT I THINK THAT WE’RE COMPLETELY SECURE AND THE GOOD NEWS IS EARNINGS WERE ONLY DOWN A COUPLE POINTS. IT WASN’T ANYTHING DISASTROUS. MAYBE PEOPLE WENT SHOPPING AT LOWE’S THE LAST QUARTER. IT JUST WAS — IT COULD HAVE IT COULD HAVE BEEN A FLUKE. IT COULD HAVE BEEN PEOPLE REALIZING THEY CAN’T AFFORD THE NEXT LEVEL. IT’S LIKE THE SHOW LOVE IT OR LIST IT, THEY MAY HAVE FOUND A WAY TO LOVE IT AGAIN.>>IT’S MIKE MURPHY. AGREE WITH YOU REGARDING HOME DEPOT. WE’RE FINE. I THINK A LOT OF WHAT’S GOING ON RIGHT NOW WITH THE HOUSING MARKET, EVEN IF THE HOUSING MARKET WERE TO SLOW DOWN A LITTLE BIT, WHICH I DON’T THINK IS THE CASE, BUT IF IT WAS, I THINK HISTORICALLY YOU’VE SEEN THAT IN THAT TYPE OF MARKETPLACE PEOPLE WILL GO OUT AND TRY TO RENOVATE THEIR CURRENT HOMES. SO THAT COULD EVEN PLAY IN AS A STRONG CARD FOR HOME DEPOT, CORRECT?>>YEAH, I AGREE. I THINK THAT THEY PROBABLY WANT EVERYBODY USING THEM INSTEAD OF A SELECT GROUP. SO AGAIN, LIKE WE’RE COMPLETELY PROTECTED. THE ONLY THING THAT’S GOING TO AFFECT THIS AND CERTAIN PRICE POINTS IS THE RISING INTEREST RATES. I THINK WE’RE GOING TO SEE MAYBE A LITTLE BIT OF VOLATILITY IN THE NEXT QUARTER IF THEY RAISE EVEN JUST A QUARTER OF A POINT. BUT GIVEN, HOME DEPOT — BUT AGAIN, HOME DEPOT IS ONE OF THE TWO 800-POUND GORILLAS.

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    Randye Bastian

    Home Depot has its own “issues” which need to be dealt with immediately and completely. One glaring problem is almost every big-ticket item (example: appliances) has a minimal two-week waiting period before a customer can even hope to see his purchase. Then, there are “rules and regs “ about delivery and installation which are not present with Lowe’s, for example. Home Depot should take a long, hard look at itself internally.

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    Gary Chandler

    LIBERAL DEMOCRATS PUTTING OUT FAKE ECONOMY NEWS TO HURT PRESIDENT TRUMPS PRESIDENCY. LIKE THEY DID HERBERT HOOVER IN . THE 1930'S . JUST WATCH THE NUMBER OF TRUCKS MOVING GOODS ON HIGHWAYS IS A. BETTER PICTURE OF OUR. ECONOMY. AND WELL BRI G OF COY TEY. YOU CAN NOT TRUST THE NEWS .MEDIA. .

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    P Bradley

    When they allow a store employee.. a Pro Mgr physically assault a 60 yr old woman and do nothing about it… We will NEVER shop there again! There’s always Lowe’s and Menards

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