For Overachieving Home Depot And Lowe’s The Fight Is On [Forbes]
JC PENNEY (JCP)
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Source: Forbes
For Overachieving Home Depot And Lowe’s The Fight Is On As each reported robust numbers for the quarter, Home Depot and Lowe’s – the two do-it-yourself behemoths – find themselves in a rather unusual spot in the modern American retailing marketplace. While most channels have been reduced to a single dominant player – think Best Buy, think Macy’s, think Barnes & Noble, among others – the home improvement space sports two very strong national chains operating at full strength. And even as Depot is significantly larger than Lowe’s — $108 billion versus $69 billion – each put up strong results this week, indicating just one thing: The fight is on. For Home Depot, the big improvements were on the bottom line: up nearly 4 percent, beating Street estimates, with comp store sales showing a 3 percent gain. That last matrix missed estimates as did top line sales, only up 1.2 percent. The company also lowered its forecast for the year. The news was more consistently positive across the highway a
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