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    A SPATE of thefts has forced a major retailer to close dozens of its branches while others are exploring ways how to tackle shoplifting. Bosses at the drugstore company Rite Aid have admitted that offenses have risen and it has seen a $5million increase in “shrinkage” year on year. 2Retailers are exploring ways how to clamp down on shoplifting (stock image)Credit: NYPD 2Retailers refer to the term 'shrinkage' when describing the losses that they suffer. It includes products that are intentionally stolenCredit: NYPD Shrinkage is a term used to describe the losses that retailers suffer. It includes shoppers who may have accidentally failed to scan groceries at the self-checkout, or products that have been intentionally stolen, according to The Atlantic. Meanwhile, bosses at retailers such as Home Depot and Best Buy have taken action to clamp down on shoplifting offenses. Rite Aid CEO Heyward Donigan said the retailer “experienced unexpected headwinds this quarter from front-end shrink”, according to the New York Post. read more on store theftUNDERSTANDING CRIME Criminologist reveals shame is the main reason for self-checkout theftsCHECKOUT...
    Follow DailyMail.com's live blog for the latest developments on Hurricane Ian.  Andrea Cavallier Host commentator 20:18 'Leave now, do not wait': 300,000 Floridians are ordered to evacuate before monster Hurricane Ian slams into west coast at 140MPH Floridians have been urged to 'get out now' as Hurricane Ian barrels towards the Sunshine State and is set to bring 15ft waves and 140mph winds. Local officials warned residents 'do not wait' and stressed 'time is of the essence' as the monster storm loomed in the Caribbean Sea just south of Cuba. Terrified residents have started desperately digging huge trenches to redirect flood water while others have stripped shelves bare of water and essentials. Stark pictures and videos from across the state show prolonged queues at checkouts as locals stocked up and prepare to bunker down ahead of the monster weather front. Ian strengthened from a tropical storm to a Category 1 hurricane overnight Sunday, but it is feared it will warp into a major Category 4 this week - hitting Florida on Wednesday night or Thursday morning...
    Ted Decker, Home DepotSource: PRNewswire Home Depot has named CEO Ted Decker as the chairman of the board, the company announced Thursday. He replaces former CEO Craig Menear, who will retire Sept. 30. This is breaking news. Please check back for updates.TVWATCH LIVEWATCH IN THE APPUP NEXT | ETListen
    The US retail sector got a boost on Tuesday as Walmart and Home Depot both posted financial results that were better than Wall Street analysts had expected. Walmart boosted its annual profit forecast, partly reversing a hefty cut less than a month ago, as discounts to clear excess merchandise and lower fuel prices helped it beat expectations for quarterly sales.  The company also said that, even as inflation cuts into discretionary spending, it has seen higher grocery sales to middle-income and wealthy customers who are increasingly seeking out bargains. CFO John David Rainey told CNBC that about 75 percent of of Walmart's market share gains in food came from customers with annual household incomes of $100,000 or more. As well, Home Depot surpassed estimates for quarterly sales after demand from builders and higher prices helped the biggest U.S. home-improvement chain cushion the hit from dwindling store visits as the housing market slows.  Walmart boosted its annual profit forecast, partly reversing a hefty cut less than a month ago, as discounts to clear excess merchandise and lower fuel prices helped it...
    COPS are hunting a Bradley Cooper lookalike after Home Depot CCTV showed the shoplifting suspect is a spitting image of the star. Officers said the suspect was caught on camera nicking a rotary laser from a Home Depot store in Georgia, USA. 3Fans joked the Hangover star was 'in character' for his next movieCredit: Henry County Police Department 3Georgia police said the Bradley Cooper lookalike stole a rotary laser from a Home Depot storeCredit: Henry County Police Department Henry County Police shared a grab of the suspect in a notice shared on their Facebook account and were quickly inundated with 500 light-hearted comments. "You know it's hard times when Bradley is having to steal," one user quipped. "Bradley Cooper stealing? He's really far from the shallow now," joked another. "Must be hard…keepin it so hardcore," wrote a third. Others joked that the suspect was Cooper staying in character for his next project. "Bradley Cooper really put [it] on for this role," wrote Mary Kethryn. Facebook user Tom Sanford quipped that "Cooper pulled a Wynona Ryder" in reference to the star's...
    Home Depot's co-founder has blasted Joe Biden's claim that the US isn't in a recession, says the economy is going down - and added that the president's economic policies were to blame for rocketing inflation.   Ken Langone appeared on Fox's 'Your World with Neil Cavuto' Friday, and said: 'Here's where we are. And by the way, I don't care how you want to define it.  'We can agree to one thing. The economy is receding. It's going down. Now, you want to call it a recession or not - play with the words.  'But the fact of the matter is, the economy is going down. Every place I'm looking, I'm seeing signs of pullback. … This is serious stuff. And we are in a recession.' Langone said President Biden was a source of the 'pullback,' and blasted his focus on green energy policies, which he says have ended the energy independence the US achieved under Donald Trump, sending the White House back into the arms of oil-rich Saudi Arabia.  'In many respects, it was caused by the policies of the...
    A REPAIRMAN is sharing how shoppers can get deals at Home Depot for as low as one cent. Scott with Everyday Home Repairs shared his findings in a YouTube video. 2Scott says there is a way to decode price tags on items at Home DepotCredit: YouTube 2He says to focus on the last two digits of the priceCredit: YouTube Scott surveyed his viewers and determined that 62 percent of people said Home Depot is their go-to store for home improvement. In his video, Scott says there is a way to decode price tags on items at Home Depot to see if you're getting the best deals. By seeing what the price ends in, Scott says you can determine whether or not the prices will be further reduced. Scott says that prices ending in .98, .50, and .00 indicate the first, and likely lowest, discount. READ MORE HOME DEPOT STORIESHOME IMPROVEMENT I’m a home repair expert - three little-known savings tricks at Lowe’sPRO TIP I'm a home repair pro - four ways to get discounts at Home Depot of 10% and...
    SAN JOSE (CBS SF) — The man suspected of starting the massive fire that destroyed a San Jose Home Depot last week has been identified as 27-year-old Dyllin Jaycruz Gogue of San Jose. During a Tuesday morning press conference, authorities said Gogue had stolen a number of items from the Home Depot and other stores when he set fire in the lumber section of the home improvement warehouse at 920 Blossom Hill Road on April 9. READ MORE: Storm Brewing In Gulf Of Alaska To Bring Rain, Thundershowers; 'The Rainy Day We`ve Been Waiting For'Santa Clara County District Attorney Jeff Rosen, San Jose Mayor Sam Liccardo, San Jose Fire Chief Robert Sapien Jr., and members of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), were at the Tuesday press conference to announce the arrest and offer details of the investigation and charges. Gogue was charged with aggravated arson, seven counts of grand theft and three counts of petty theft. He was booked into the Elmwood men’s jail Saturday and was being held without bail. His arraignment was scheduled for 1:30 p.m....
    SAN JOSE, Calif. (KGO) -- In an effort to get a better idea about what fire investigators are doing to find the cause of Saturday's massive five-alarm fire that burned down a San Jose Home Depot, ABC7 News spoke with fire industry experts.As ATF investigators scoured the site, fire industry experts said bringing in federal agents ultimately means added resources, more experience and extra tools to help uncover a cause."I think it's just a good, smart move to call in ATF, FBI, whoever you want when you have a fire this significant," Retired Menlo Park Fire District Chief Harold Schapelhouman told ABC7 News.With decades dedicated to the fire service, Schapelhouman described the fire as aggressive and unusual for a big box store.RELATED: Feds on the ground at SJ Home Depot to assist in fire investigation"Aggressive, angry. I mean, there's a lot of words to kind of describe when you watch that column coming out of there, with dark black smoke. But you know, you have a facility that has a lot of vertical storage and racks, and a lot of...
    "And Biden’s now saying, he’s now blaming the oil companies. This is a disgrace," Langone continued. "The oil companies are reacting to supply and demand. You’re going to see it in their earnings when their earnings come out. If they’re making all this much money, where are they in the numbers? It’s wrong. It’s absolutely wrong,” he continued. “And nobody’s doing anything about it yet, in a way that going to address the issue." "The steps we're taking right now will not help," he said, adding, "And who's going to get hurt? The little guy, the poor guy that's living from paycheck to paycheck." Langone then predicted the brunt of a coming recession will likely hit sometime early next year, roughly nine or ten months from now. Earlier this week, news broke that inflation hit a 40-year high in March, with consumer prices notching up 8.5% year over year. But the numbers for producer prices were even worse, perhaps dispelling the notion that large businesses have been using the volatile economy to gouge consumers. The producer price index, which...
    SAN JOSE (KPIX 5) – Firefighters on Monday continued to monitor the smoldering and smoky ruins of a Home Depot store in South San Jose gutted by a massive fire Saturday night. The inferno at the store on Blossom Hill Road could be seen for miles around and forced the evacuation of nearby homes and triggered and shelter-in-place order for surrounding neighborhoods. READ MORE: High Wind Topples Large Tree in Palo Alto, Downs Power Lines in South San Francisco“It obviously was a very big fire,” said Diana Disney who watched the blaze and billowing black smoke from her home nearby. Disney said she felt amazed and a bit uneasy with how quickly the fire spread and how intensely it burned. She questioned why fire suppression systems like smoke detectors and sprinklers weren’t able to slow the fire down or stop it altogether. Drone footage above the home depot on Blossom Hill Road in South San Jose on April 11, 2022, two days after a massive fire gutted the store. (CBS) READ MORE: Man Pleads Guilty To Selling Nearly...
    A HUGE five-alarm blaze is engulfing a Home Depot store in San Jose. Dark clouds of smoke can be seen for miles as the San Jose Fire Department continues to battle the blaze. 1Fire crews continue to battle the blazeCredit: Google Authorities say the fire is burning at the Home Depot store located on Blossom Hill Road across the street from the Oakridge Mall. As of 7.07pm local time, the San Jose Fire Department was encouraging residents nearby to shelter-in-place. "If you live/work in the area of this fire on Bascom Ave and smell smoke, we recommend that you shelter in place. Close all doors and windows to minimize smoke from getting inside. Crews in defensive fire attack working to contain fire from spreading from unit of origin," they tweeted. The San Jose Fire Department tweeted in an update that the pet hospital nearby has been evacuated. "Those looking to reunite with pets should head to Golfland on Winfield. Updates will continue to be posted as they become available," the tweet concludes. Fire crews continue to battle the blaze. More...
    The Home Depot on Thursday named a veteran executive as its new CEO. Edward “Ted” Decker, who has served as Home Depot’s chief operating officer since October 2020, will become president and CEO on March 1. Current Chairman and CEO Craig Menear will continue to serve as the company’s board chairman. Decker joined Atlanta-based Home Depot in 2000. He has held roles in finance, business development and merchandising. “His ability to blend the art and science of retail is exactly what is needed in the next phase of growth for The Home Depot,” Menear said in a statement. “I have tremendous confidence that he will guide our company to new heights.” Home Depot’s sales surged in 2020 as the pandemic kept people indoors and itching to do home improvement projects. More recently, sales have been boosted by the strong housing market. Home Depot reported sales of $115 billion in the first three quarters of 2021, up 15.6% from the prior year. The company operates 2,317 stores in the U.S., Canada and Mexico. Home Depot shares were flat in after-market...
    TEEN thieves descended on Home Depot as part of a smash and grab robbery before taking off with sledgehammers and crowbars amid Black Friday chaos across the US. Up to ten young men - believed to be aged 15 to 20 - stormed the DIY store on Hardwick Street in Lakewood, Los Angeles at around 7.45pm. 3Teen thieves stormed the Home Depot store and made off with sledgehammers and crowbarsCredit: Twitter/@MediaShattered/ 3The suspects are said to have ran out into awaiting vehicles after the raid at around 7.45pmCredit: Twitter/@MediaShattered Employees said the mob pulled up in vehicles with ski masks on before grabbing multiple tools and fleeing into several waiting cars. The Los Angeles County Sheriff's Department said the entire hammer section was cleared by the suspects. It is feared the brazen looters may have been stocking up on tools to equip them for future heists. Employee Luis Romo told Fox11: "We tried to stop then and closed the front entrance and they put their sledgehammers up. "Whoever got in the way they were going...
    ALTHOUGH inflation has been surging, some have seen their wages rise – with major retailers headlining the hourly pay spike. The average hourly wage for low-income workers climbed to $11.70 from $10.79 in the second quarter when compared to the same period in 2019, according to Pew Research Center. 1Low-income workers have seen their hourly pays boosted an average of $11.70 And the median hourly wage for high-income earners rose to $52.68 from $50.59. Since the onset of the coronavirus pandemic, many large retailers have raised hourly wages for employees. We round up some that have done so below. Amazon Amazon recently boosted its average starting wage for its workers to $18 an hour, according to Reuters, making it the best rate of the five retailers. While the average will increase, it is keeping its base pay flat at $15 an hour. The e-commerce giant plans to hire 125,000 workers. As of its latest earnings report in July, Amazon employed 950,000 workers. Most read in MoneyCRACK DOWN Biden crypto executive order set to tighten rules on Bitcoin and othersCASH BOOST California rolls...
    Major retailers Target and Home Depot have elected to charter their own ships to deliver billions of dollars worth of goods in time for the holiday season, amid an unprecedented supply-chain crisis in the US.  'As co-managers of the ship, we can avoid delays from additional stops and steer clear of particularly backed-up ports,' Target - the second largest U.S. importer behind Walmart - said in a statement released in September.  Similarly, Home Depot Inc.'s Chief Operating Officer Ted Decker said the company came up with a 'creative solution' to its problems with getting goods back in August. 'Our supply chain teams recently leveraged our scale and flexibility to arrange for several container vessels for our exclusive use,' he said during the company's second-quarter earnings report.  The decision comes as bottlenecks along the country's East and West coasts continue to hinder the transportation of products from overseas to countless stores across the nation, causing a backlog of billions of dollars of toys, clothing, electronics, vehicles, and furniture. Home Depot Inc.'s Chief Operating Officer Ted Decker said the company came up with a...
    In this article LOW HD Home Depot has a flatbed distribution center in the Dallas area. It is opening more of the facilities across the country to help fulfill home professionals' large orders.Melissa Repko, CNBCIn a giant warehouse in Dallas, a fleet of forklifts carries big and bulky home improvement supplies from drywall and concrete to lumber. Box cars cut though the giant facility on a rail line. Trucks pull up, ready to be loaded. Home Depot's facility — which could fit about 14 professional football fields— is helping the company speed up the replenishment of store shelves and deliver purchases to customers' doors. It is a key part of the retailer's strategy to win more business from electricians, remodelers and other home professionals, particularly ones that place big orders. The pandemic fueled a hot real estate market and a penchant for "nesting," creating tailwinds for Home Depot and Lowe's. As Covid-19 cases fall in the U.S. and homeowners spend more time on planes or at parties, the biggest business opportunity is sales growth from home professionals. Home Depot...
    In this article LOW TGT WMT HD A Home Depot location in Encinitas, California.Mike Blake | ReutersHome Depot is one of the largest importers in the country. Yet with congested ports, container shortages and Covid-19 outbreaks slowing shipments, the company made a decision: It was time to get its own boat. "We have a ship that's solely going to be ours and it's just going to go back and forth with 100% dedicated to Home Depot," Chief Operating Officer Ted Decker said in an interview. It marks the first time that the company has taken such a step. Decker said the contracted ship, which will begin running next month, is just one example of the unusual measures that the company is taking as it copes with challenges that have ricocheted across the global supply chain. On rare occasions, Home Depot has also flown in power tools, faucets, electrical components, fasteners and other "smaller, higher value items" by air freight, he said. In other cases, it has opted to buy items on the spot market — even though it can...
    CHICAGO (CBS) — Officials have identified the gunman who was killed by Chicago police on Thursday, after he shot an officer and a Home Depot security guard after he was caught shoplifting. Tuesday morning, the Cook County Medical Examiner’s office identified the gunman as 18-year-old Travon Chadwell, of Chicago Lawn, who died of multiple gunshot wounds. READ MORE: Save The Westside, Chicago’ Fundraising Campaign Relaunching With Earth Day Community Resources The chain of events started Thursday afternoon with a shoplifting at the Home Depot at 4555 S. Western Blvd. Chadwell got into a struggle with security officer Kevin Lockett at the store, and shot Lockett in the head, gravely wounding him. The shoplifter ran off, and police gave chase. The first officer on the scene was shot in the shoulder, and as fellow officers tended to him, others continued the chase, catching up to Chadwell in a nearby backyard, where the gunman was killed in a shootout with police. The wounded officer was treated and released from the hospital on the same day of the shooting. A four-year veteran of...
    CHICAGO (CBS) — A security guard who was shot at a Home Depot in the Back of the Yards neighborhood late Thursday afternoon has now been identified as Kevin Lockett. A police officer was also shot and wounded while chasing the suspect in the shooting. READ MORE: Chicago Man Wrongly Targeted By Police Dozens Of Times Because He Has Same Name And Birthdate As A Wanted Man Lockett was shot in the head when he got into a confrontation with a shoplifter. The security guard was “gravely” wounded, Chicago CPD Supt. David Brown said. He was taken to the University of Chicago Medical Center. The suspect fled, and officers were called to pursue him, Brown said. The officer who was shot was the first on the scene, and he was shot almost immediately, Brown said. READ MORE: The Killing Needs To Stop A Mothers Plea After A Chicago Mass Shooting Left One Person Dead And Several Injured With the officer down, other officers attended him to get him to the hospital while other officers continued pursuing the suspect, Brown said....
    In this Thursday, March 15, 2012 photo, tools are displayed at the Fairmount Hardware in Philadelphia. AP Photo/Matt Rourke Police in Florida say a man posed as a Home Depot employee to rob three stores.  The Panama City Police Department arrested Dustin White on charges of grand theft.  He was caught after he was seen loading merchandise into a U-Haul in the parking lot of one store.  Visit Insider's homepage for more stories. Police in Panama City, Florida arrested a man for posing as a Home Depot employee in order to rob stores, according to several local outlets.  Dustin White, 32, of Lakeland, Georgia was charged with grand theft, scheming to defraud, possession of methamphetamine, and resisting arrest without violence, the Panama City News-Herald reported. Police were called after White was spotted putting merchandise on the back of a U-Haul truck in the parking lot of the Panama City location. He fled the scene but was caught "after a brief foot chase by patrol officers," police said. "White was wearing a Home Depot employee apron in an...
    A CEILING fan sold at Home Depot has been recalled after dozens of reports that the blades fly off.  More than 190,000 of Hampton Bay’s 54-inch Mara indoor/outdoor ceiling fan have been taken off the shelves of Home Depot, where it was sold exclusively, the New York Post reported on Monday.  6Blades of Hampton Bay's Mara fan reportedly flew offCredit: United States CONSUMER PRODUCT SAFETY COMMISSION 6The Mara fan was sold exclusively at Home DepotCredit: AFP The Consumer Product Safety Commission received 47 reports of the fan blades coming off.  In at least two reports, a detached blade struck a customer, the commission stated in a recall notice issued Dec. 23.  The nature of the customers’ injuries were not disclosed.  6Hampton Bay's Mara fan had a defect due to screws not being 'adequately secured'Credit: United States CONSUMER PRODUCT SAFETY COMMISSION 6Home Depot has recalled 190,000 Mara fansCredit: Getty - Contributor Consumers were asked to “immediately stop using the fans,” according to the notice.  At least four incidents involved property damage.  Home Depot had sold about 80,000 of the 190,000 fans...
    A few short months ago, reports of rampaging Karens and perpetually rising COVID-19 infections were briefly interrupted by the arrival of some very impressive Halloween decorations. Featured Video Hide
    LSU promises review of Title IX policies, faces calls for resignations, after USA TODAY investigation Ohio wedding leads to over 32 COVID-19 cases – including newlyweds Lowe’s Slumps After Missing Estimates as Expenses Pile Up (Bloomberg) -- Lowe’s Cos Inc. slumped after reporting third-quarter earnings that were slightly below analysts’ expectations, underscoring rising costs at home-improvement retailers that also hit rival Home Depot Inc. © Bloomberg A Lowe's store at night in South Bend, Indiana, U.S., on Monday, Nov. 16, 2020. Lowe's Cos Inc. is scheduled to release earnings figures on November 18. Earnings per share came in at $1.98 at Lowe’s, excluding some items, while analysts anticipated $2, on average. That’s the first time the company has missed on that metric since the period ended May 2019, according to data compiled by Bloomberg. The outlook for the current quarter also fell short of some estimates. Load Error The drivers for the underperformance were expenses due to store revamps and Covid-19-related expenses. At the same time, sales at Lowe’s and Home Depot have greatly benefited from being deemed...
    (CBS/CNN) — The housing market is booming. That’s great news for Home Depot — and its workers. Home Depot reported better-than-expected sales and earnings Tuesday, and the company is planning to invest $1 billion annually on increased worker benefits. That’s on top of the $1.7 billion in benefits the company has already granted this year in response to Covid-19. Home Depot unveiled temporary programs during the coronavirus pandemic such as expanded paid time off and weekly bonuses. But the company has decided to give hourly workers a permanent pay increase as the housing market continues to thrive. In the Boston area, Home Depot is looking to fill more than 1,000 retail positions at stores. Openings include full and part-time positions in customer service and overnight freight, as well as filling online and curbside orders. Applications can be filled out online at careers.homedepot.com/hiring. Sales at stores that have been open for at least one year surged 24% in the third quarter. And Home Depot reported a net profit of $3.4 billion, an increase of more than 20% from a year ago....
    US successfully intercepts ICBM with ship-launched missile in historic test Raids, arrests a year after daring heist of priceless royal treasures, jewelry Home Depot Shares Drop as Sales Growth Provokes Cost Increase (Bloomberg) -- Home Depot Inc. shares declined after the Atlanta-based home-improvement retailer reported higher costs and a plan to spend $1 billion to boost annual compensation for front-line hourly employees. © Bloomberg A customer wearing a protective mask walks past paints for sale at a Home Depot Inc. store in Daly City, California, U.S., on Monday, Nov. 16, 2020. Home Depot Inc. is scheduled to release earnings figures on November 17. While same-store revenue, a key gauge of performance for retailers, rose 24% in the quarter ended Nov. 1, that also brought higher expenses. Cost of sales, a measure of the company’s expenses to generate a sale, was up 24% from a year ago. Load Error Home Depot has broadly benefited amid the pandemic of 2020 as consumers divert spending that would have gone to travel and entertainment to improving their homes. With construction booming, it...
    University of California agrees to pay $73M to settle sexual abuse allegations against former gynecologist James Heaps First Thing: Lindsey Graham accused of suggesting legal ballots be thrown out Home Depot earnings beat as shoppers focus on home, retailer to make pandemic pay raises permanent With people spending more time at home and some leaving cities for spacious homes in the suburbs, Home Depot and its rival Lowe's saw a surge in buying that drove sales through the summer. Home Depot announced Monday that it agreed to acquire the remaining shares of its former unit and one of North America's largest industrial products distributors, HD Supply, for about $8 billion. The deal could help Home Depot cement its leading edge in the professional contractors business. © Provided by CNBC A customer wears a protective mask while unloading purchases off a cart outside a Home Depot Inc. store in Reston, Virginia, on Thursday, May 21, 2020. Home Depot on Tuesday reported third-quarter earnings that beat estimates with sales surging more than 24% compared with a year ago as...
    Black residents discuss lasting injustices of urban renewal National Cheeseburger Day 2020: Find deals and free food Friday at McDonalds, Applebees and more Dow under pressure early Friday to end the week as Home Depot, Goldman stocks slump MARKET SNAPSHOT © JOHANNES EISELE/AFP via Getty Images U.S. stock indexes saw modest losses gather steam early Friday, with the indexes trying to avoid a three-session weekly losing streak amid a slump in technology stocks. Load Error The day’s trading action marks quadruple witching, which refers to the simultaneous expiration of single-stock options, single-stock futures, and stock-index options and stock-index futures, which has traditionally been associated with some intraday volatility. How are equity benchmarks performing? The Dow Jones Industrial Average (DJIA) was trading 90 points, or 0.3%, lower at 27,805, the S&P 500 index (SPX) was off 6 points, or 0.2%, at around 3,351, but swinging between slight gains and losses in early trade. The Nasdaq Composite Index (COMP) was trading at the break-even line at 10,908. On Thursday, the Dow closed 130.40 points, or 0.4%, lower at...
    Tennessee Teachers Can Remain In Classrooms After Exposure To COVID, According to New Policy CDC: Salmonella outbreak linked to onions expands Lowes Reports Outstanding Fiscal Q2 Results as Consumers Turn to Home Improvement This morning, Lowe's Companies (NYSE: LOW) reported some notable profits for the fiscal second quarter of 2020, which ended on July 31. It beat analyst consensus expectations in two important metrics: Adjusted earnings per share (EPS) exceeded average predictions of $2.95 by $0.80, coming in at $3.75, while revenue surpassed forecasts by more than $3 billion, amounting to $27.3 billion for the quarter. © Provided by The Motley Fool Lowe's Reports Outstanding Fiscal Q2 Results as Consumers Turn to Home Improvement Quarterly figures also rocketed ahead of Q2 2019 results by double-digit percentages. Comparable sales rose 34.2% year over year overall, with the U.S. home improvement business sector jumping 35.1%. While American sales performance was the best, even the least active markets saw comparable sales increase at least 20% according to Lowe's. In his remarks on the results, president and CEO Marvin Ellison stated the...
    The S&P 500 on Tuesday surpassed record highs, last seen before the onset of the coronavirus crisis in February, riding on gains in shares of Amazon in a technology-driven rally as a number of major retailers reported booming online sales. Doubts about the underlying health of the economy, however, were writ large in the reaction to bumper results from Home Depot and Walmart, whose shares fell on warnings that retail may have peaked as stimulus cash runs dry.  Walmart's online sales nearly doubled in the fiscal second quarter, helped by an expansion of its online delivery services.  Sales at U.S. locations opened at least a year jumped 9.3 percent, the company reported Tuesday. With customers not going out to eat as much, they're cooking at home, spurring sales of groceries. They're also buying items to set up their home office or improve their outdoor area, store executives said. Customers wearing face masks shop at a Walmart on July 16 in Pembroke Pines, Florida. Walmart's online sales nearly doubled in the fiscal second quarter Home Depot earned $4.33 billion for...
    Virus updates: Texas passes staggering 10K deaths British retailer M&S to slash 7,000 jobs over the next 3 months following COVID-19 sales slump Home Depot Sales Surge on Renovation Boom Even as Costs Rise (Bloomberg) -- Home Depot Inc. reported sales growth that was more than double the already brisk rate analysts had been expecting, but rising expenses meant flat margins in an otherwise standout quarter. Load Error Same-store sales rose 23.4%, sharply beating the estimate for an 11.4% gain from Consensus Metrix. Revenue of $38.1 billion also surpassed expectations. The gain was driven by both higher average customer checks and more transactions, meaning more shoppers bought from Home Depot in the quarter and they spent more every time they came in. Comparable sales in August are at similar levels to the past quarter, executives said on the call. “We can’t really extrapolate current performance to future performance. What we do know is the home has never been more important to the customer,” Chief Executive Officer Craig Menear said on the earnings call. “We’re all spending lots of...
    Opinion: Steelers cant bank on tradition this time around Time-tested products that are now obsolete Dow poised to rise as retailers Home Depot, Walmart deliver better-than-expected results amid coronavirus MARKET SNAPSHOT © POOL/AFP via Getty Images Home Depot shares in focus Tuesday. U.S. benchmark stock indexes looked likely to reach record territory on Tuesday, with shares of Home Depot and Walmart partly helping to buoy the Dow after the giant retailers rang up better-than-expected quarterly results. Load Error Investors were also weighing more tensions between China and the U.S. against a glimmer of progress in talks between Democrats and Republicans over another coronavirus fiscal aid package. How are major stock indexes faring? Futures for the Dow Jones Industrial Average (YM00)(YMU20) rose 85 points, or 0.3%, to trade at 27,860; those for the S&P 500 index (ES00)(ESU20) picked up 5.70 points, or 0.2%, at 3,385.50; Nasdaq-100 futures (NQ00)(NQU20) climbed 35.75 points to reach 11,322.50, a gain of 0.3%. On Tuesday, the Dow Jones Industrial Average (DJIA) fell 86.11 points, or 0.3%, to end at 27,844.91, or 5.8% away from its...
    Coronavirus live updates: Texas surpasses staggering 10K deaths; Florida tourism drops by 60.5%; infected mink found on Utah fur farms Cramer expects unbelievably positive reports from big-box retailers this week Home Depot Rises as Consumers Splurge on Do-It-Yourself Projects (Bloomberg) -- Home Depot Inc. reported sales growth that was more than double the already brisk rate analysts had been expecting, sending shares higher in early trading. © Bloomberg Home Depot Inc. signage is displayed on a shopping basket inside a store in New York, U.S., on Sunday, Aug. 16, 2020. Home Depot is scheduled to release earnings figures on August 18. Same-store sales rose 23.4%, sharply beating the estimate for an 11.4% gain from Consensus Metrix. Revenue of $38.1 billion also surpassed expectations.Key InsightsHome Depot Chief Executive Officer Craig Menear called the sales performance “record-breaking.” The company’s statement itself is pretty bare bones on commentary, and analysts will be looking for more detail on this morning’s call.Like many companies during the pandemic, Home Depot suspended its full-year forecast in May due to widespread uncertainty around Covid-19 and its impact...
    Its a hard choice: Tennessee parents send kids back to school amid new COVID-19 cases Online grocery sales soaring in the Middle East and the trend may continue, says retail giant Majid Al Futtaim Home Depot wants to speed up deliveries with new distribution centers as pandemic fuels home projects Home Depot will open three distribution centers in the Atlanta area over the next 18 months to keep up with customers' demands for speed and convenience.  The home improvement retailer is investing $1.2 billion in supply-chain facilities over five years.  SVP Stephanie Smith said the pandemic has underscored the importance of a strong and flexible supply chain as customers gravitate even more to online shopping and curbside pickup. © Provided by CNBC A customer wears a protective mask while unloading purchases off a cart outside a Home Depot Inc. store in Reston, Virginia, on Thursday, May 21, 2020. Like many other shoppers, Home Depot customers have little patience for long waits and shipping delays. Load Error The home improvement retailer announced Tuesday it will open three distribution...
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