Aug. 19, 2014, 6:55 AM
- Home Depot (NYSE:HD) reports comparable-store sales rose 5.8% in Q2. Comp growth in the U.S. was 6.4%.
- Transactions +4.2% to $409.7M.
- Average ticket +1.8% to $58.43.
- Sales per square foot +5.5% to $403.90.
- Inventory +5.2% to $11.665B.
- Guidance: Net sales are expected to rise 4.8% for the fiscal year. Full-year EPS of $4.52 is forecast vs. $4.41 consensus.
- HD +3.5% premarket
Aug. 19, 2014, 6:01 AM
Aug. 18, 2014, 5:30 PM
Jul. 15, 2014, 8:41 AM
- A decline in sales at furniture stores and home furnishing outlets (PIR, BBBY, LZB, ETH, RH, HVT, KIRK, WSM) dragged down retail sales during the month of June.
- The building material and garden equipment category (HD, LOW) was also weak.
- Perhaps a surprise, but sales at clothing stores outpaced other businesses during the month.
Jul. 14, 2014, 7:41 AM
Jun. 25, 2014, 9:32 AM
- Allowing that harsh winter weather impacted sales this year, Home Depot's (HD) EVP for U.S. Stores Marvin Ellison tells Oppenheimer Consumer Conference-goers better-than-hoped results in the company's southern and western divisions helped to offset.
- Webcast and presentation slides
- The company expects (pg. 4) 7 new store openings this year (5 in Mexico, 1 Puerto Rico, 1 Canada), comparable sales growth of about 4.6%, operating margin expansion of roughly 70 bps to 12%, diluted EPS growth of 17.6% (helped by buybacks), and ROIC of 24%.
Jun. 12, 2014, 8:52 AM
- Department stores (DDS, M, SSI, BONT, SHLD, JCP, KSS, JWN) showed sluggish growth in May. Sales in the sub-category fell 1.4% M/M and 2.0% Y/Y.
- As expected, building material & garden sales (HD, LOW) showed some late-spring strength. Sales rose 1.1% M.M and 4.6% Y/Y.
- The catch-all miscellaneous store retailers category (ODP, PETM) packed the biggest month-over-month pop of all at 1.8%.
- Full Retail Sales report (.pdf)
May 22, 2014, 4:39 PM
May 20, 2014, 10:58 AM
- Shares of Home Depot (HD +2.6%) recover from a premarket dip sparked by a miss with Q1 earnings.
- Execs with the company stood their ground on the firm's conference call, saying sales lost in Q1 due to weather will be made up in Q2.
- May sales have been strong month-to-date, tips management.
- Home Depot earnings call webcast
May 20, 2014, 6:58 AM
- Home Depot (HD) reports comparable-store sales rose 2.6% in Q1, paced by a 3.3% comp in the U.S.
- The company processed 344.5M transactions during the quarter, up 2.2% from a year ago. The average ticket rose 0.6% to $57.59.
- EPS guidance for Q2 is raised to $4.42, inclusive of a $0.04 benefit from the sales of HD Supply stock.
- Despite the earning miss, execs with Home Depot cite late quarter strength which rolled into Q2.
- HD -2.0% premarket
May 20, 2014, 6:01 AM
May 19, 2014, 5:30 PM
Apr. 22, 2014, 1:56 PM
Apr. 21, 2014, 8:53 AM
Apr. 19, 2014, 10:00 AM
- An uptick in the housing market, market-share gains at the expense of struggling Sears, and substantial supply-chain improvements could be the catalysts for a near-25% rise in Home Depot (HD) over the next year, writes Avi Salzman in a Barron's cover story.
- The stock price is up just 6% Y/Y, sharply lagging both the S&P 500 and Lowe's (LOW). Its 17.4x P/E ratio slightly trails that of Lowe's despite more impressive earnings. As Lowe's has relied on promotions and new stores in the years following the housing bust, Home Depot - under the leadership of Frank Blake who came to the CEO spot just ahead of crash - has moved to cut costs, close underperforming units, and improve customer service, and since mid-2009 has consistently posted same-store sales gains higher than Lowe's. In 2013, comp-store sales grew 6.8% at HD, the best print since 1999.
- Home Depot has the best management team in the business, says Credit Suisse's Gary Balter, and ROE has shot up to 35.5% - roughly twice that of competitors - from 22.2% when Blake took over and began reorganizing the supply chain.
Apr. 14, 2014, 9:32 AM
- Retail sales showed some vibrancy in March led by solid gains from building material and garden equipment sellers (HD, LOW) and general merchandise chains (COST, WMT, CASY, TGT). A revision to February's retail sales mark also bodes well for the retail sector.
- Sales at electronics and appliciane stores (BBY, CONN, HGG) moved in the wrong direction during the month, falling 1.6% M/M and 0.7% Y/Y.
- Related ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, FDIS, PMR, UGE, RCD, PEZ, SZK, PSCD
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