The largest home improvement retailers in the industry beat estimates in Q3. The Home Depot and Lowe’s, which benefited from heightened demand over the past year and a half as consumers took on more projects at home, this week showed they were able to maintain momentum.
“Home Depot has proven through the COVID-19 pandemic that it remains a winner in retail, given the company’s best-in-class execution, digital prowess, and a prolonged period of nesting, with discretionary spending having shifted toward the home,” Joseph Feldman, senior managing director and assistant director of research at Telsey Advisory Group, said in emailed comments. “The company should continue to benefit from housing market strength—solid existing home turnover and higher prices and remodeling activity.”
To view the full article, please click on the following link:
Visit Content