Lowe's Companies, Inc.NYSE
Tue, Nov. 22, 12:23 PM
- Home improvement stocks and retailers tied to home purchasing are racing higher after an unexpectedly strong report on U.S. existing home sales was released by the National Association of Realtors this morning. Housing demand was strong despite higher prices and lower inventory.
- Home Depot (NYSE:HD) +1.70% to $130.40 vs. a 52-week trading range of $109.62 to $139.00.
- Lowe's (NYSE:LOW) +2.52% to $71.15 vs. a 52-week trading range of $62.62 to $83.65.
- Lumber Liquidators (NYSE:LL) +7.64% to $18.32 vs. a 52-week trading range of $10.01 to $20.10.
- Tile Shop Holdings (NASDAQ:TTS) +1.03% to $3.91 vs. a 52-week trading range of $3.53 to $4.42.
- Restoration Hardware (NYSE:RH) +4.88% to $36.72 vs. a 52-week trading range of $24.75 to $94.88.
- Pier 1 Imports (NYSE:PIR) +2.57% to $6.00 vs. a 52-week trading range of $3.73 to $7.70.
- Bed Bath & Beyond (NASDAQ:BBBY) +1.69% to $45.60 vs. a 52-week trading range of $38.60 to $55.62.
- Haverty Furniture (NYSE:HVT) +1.87% to $21.75 vs. a 52-week trading range of $16.57 to $24.54.
- Williams-Sonoma (NYSE:WSM) +1.96% to $54.62 vs. a 52-week trading range of $45.96 to $65.42.
- Boise Cascade (NYSE:BCC) +3.95% to $22.35 vs. a 52-week trading range of $13.80 to $31.85.
Wed, Nov. 16, 11:12 AM
- Oppenheimer weighs in on the "messy quarter" and disappointing guidance from Lowe's (LOW -3.1%). Snippets on the Oppy noted are posted below.
- "Sales weakness in Aug. and Sept. weighed upon top-line trends in the period."
- "The tone of the Lowe’s press release implies to us that management is potentially embarking upon some type of 'reset.'"
- "Lowe’s took a number of charges in Q3 and seems set to invest differently going forward."
- "We continue to view Home Depot as the better play in home improvement retail."
- Previously: Lowe's misses by $0.08, misses on revenue (Nov. 16)
- Previously: Lowe's negative on earnings miss (Nov. 16)
Wed, Nov. 16, 6:11 AM
- Lowe's (NYSE:LOW) reports comparable-store sales rose 2.7% in Q3.
- Comps for the U.S. home improvement business up 2.6%.
- Gross margin rate slipped 12 bps to 34.75%.
- SG&A expense rate increased 34 bps to 22.89%.
- Merchandise inventory +5.3% to $10.99B.
- Home improvement and hardware stores +270 Y/Y to 2,119.
- FY2016 Guidance: Sales growth: +9% to +10%; Comparable-store sales: +3% to +4%; Operating margin: ~+65 bps; Tax rate: ~40.1%; Diluted EPS: ~$3.52; New stores: ~40.
- LOW -4.4% premarket.
Wed, Nov. 16, 6:01 AM
Tue, Nov. 15, 5:30 PM
Fri, Nov. 11, 5:04 PM
Thu, Nov. 3, 8:24 AM
Wed, Oct. 26, 1:04 PM
- Shares of Lowe's (LOW -1%) are slightly down on the day after taking on a downgrade from JPMorgan on top of a loss in a confidence from Wedbush (earlier).
- JPMorgan moves to a Neutral position after having the retailer set at Overweight. The price target is reeled in to $72 from $87.
- "We believe an uneven consumer environment, difficult comparisons ahead, higher exposure to big ticket spending among a declining backdrop of consumer confidence, and a stepped up promotional atmosphere lead to a challenging environment in 2017," warns JP.
Wed, Oct. 26, 7:25 AM| Wed, Oct. 26, 7:25 AM | 7 Comments
Fri, Oct. 14, 9:05 AM
- Retail sales increased 2.7% Y/Y and 0.6% M/M in September on broad gains across categories. The sales totals for August were also nudged slightly higher.
- Sales from nonstore retailers like Amazon (NASDAQ:AMZN) were up 10.6% Y/Y to once again account for a higher percentage of overall sales.
- The building material & garden equipment category showed a 1.4% M/M and 5.6% Y/Y gain which bodes well for Home Depot (NYSE:HD) and Lowe's (NYSE:LOW).
- Department stores (DDS, SHLD, JCP, M, JWN) lagged again as sales fell 0.7% M/M and 6.4% Y/Y, while furniture and home furnishing stores (HVT, WSM, KIRK, RH, BBBY) outpaced the broad averages in the sector.
- Restaurant sales (NASDAQ:BITE) showed a nice jump from August, although the breakdown between large publicly-traded chains and independent restaurants isn't broken down.
- The early take from retail analysts is that the overall tone from the report is ever-so-slightly positive for Wal-Mart (NYSE:WMT) and Target (NYSE:TGT).
- Previously: Retail sales track higher as expected (Oct. 14)
Mon, Oct. 10, 3:29 AM
- At least eleven people were killed in South and North Carolina by Hurricane Matthew's destructive forces on Sunday, bringing the storm's death toll to 19 across the southeastern U.S.
- More than 2M businesses and homes are still in the dark, and water, sewage and gas are out in many areas.
- Although the hurricane has been downgraded to a post-tropical cyclone, authorities have warned it will pose dangers for days to come.
- Related tickers: HCI, UVE, HRTG, UIHC, FNHC, PGTI, BECN, OC, HD, LOW
Sun, Oct. 9, 4:27 AM
- Hurricane Matthew slammed into North Carolina and Virginia on Sunday, packing a diminished yet still potent punch as it caused major flooding and widespread power outages along the U.S. East Coast.
- The most powerful Atlantic storm since 2007 has killed at least 11 people in Florida, Georgia and North Carolina since Thursday and left more than two million businesses and homes without power.
- Related tickers: HCI, UVE, HRTG, UIHC, FNHC, PGTI, BECN, OC, HD, LOW
Thu, Oct. 6, 4:02 PM
- Alongside big declines for some property & casualty insurers, building and roofing materials suppliers are rallying ahead of Hurricane Matthew, which is now a Category 4 storm.
- According to CoreLogic the reconstruction costs of this storm could be in the area of $54B.
- Beacon Roofing (BECN +4.4%), Owens Corning (OC +2.5%), PGT (PGTI +9.5%).
- The team at JPMorgan notes Home Depot (HD +2.1%) and Lowe's (LOW -0.2%) both saw same-store sales climb about 100 basis points after three major storms hit in 2004. Trouble is, expenses climbed as well, leading to little effect on EPS.
Thu, Oct. 6, 8:55 AM
- Cleveland Research downgrades Lowe's (NYSE:LOW) to a Neutral rating after having the home improvement chain set at Buy.
- Lowe's isn't due to report on Q3 earnings until November 16.
- Shares of Lowe's are down 1.73% premarket to $71.00 vs. a 52-week trading range of $62.62 to $83.65.
Thu, Sep. 15, 9:02 AM
- Retail sales fell in August on a month-over-month comparison. The drop wasn't a large surprise considering the onslaught of warnings from the retail sector on store traffic.
- 8 out of the 13 retail categories showed negative growth during the month, with the largest drops recorded in the building material/garden equipment/supplies dealers and miscellaneous store retailers categories. The broad weakness turned on its head the argument that money freed up from a lower level of auto sales would be funneled into other consumer purchases.
- Food services and drinking places showed a +0.9% M/M and +5.8% Y/Y increase in a somewhat surprising result considering the harsh read from Black Box Intelligence on August same-store sales in the restaurant sector BITE. Is the discrepancy an indication that independent restaurants are taking market share?
- On a year-over-year basis, retail sales were up 1.9%. As expected the Amazon-influenced nonstore retailers category did the heavy lifting with an 11% gain. Larger U.S. retail chains (WMT, SPLS, TGT, BBY, DG, COST, KR, WBA, CVS, LOW, HD, SWY) have been raising the issue of pricing pressure in recent conference presentations and guidance updates which could be a nagging sales deflator for the balance of the year.
- Previously: Retail sales disappoint in August (Sept. 15)
- Retail ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, PBJ, IYK, FXD, IYC, RHS, FDIS, PEJ, FSTA, PSL, SCC, RCD, UCC, PEZ, PMR, PSCC, UGE, PSCD, SZK, BITE, CNDF, CNSF, IBUY, JHMC, JHMS.
Fri, Aug. 19, 4:38 PM