Home Depot Inc

Home Depot said Thursday that it will open four new distribution centers as it chases more sales from remodelers, contractors and other home professionals. The new distribution centers are expected to open in the first half of the year in Detroit, Los Angeles, San Antonio and Toronto. The facilities make room for the bulky size, wider variety and larger orders of products that pros need, such as lumber, shingles and insulation, which then can be delivered directly to a job site. Each facility averages approximately…

The Lowe's logo is displayed on the front of the store near Bloomsburg.Paul Weaver | Lightrocket | Getty ImagesLowe's on Tuesday beat Wall Street's quarterly earnings and revenue estimates, even as the company continued to see customers tackle fewer home projects. The home improvement was going up against lower expectations for its fourth quarter. It had cut its full-year forecast in November, after CEO Marvin Ellison said the company had felt a "greater-than-expected pullback" on pricier items and discretionary home…

A man with a paper bag of groceries looks surprised and upset at a receipt from a supermarket with high prices against the background of an escalator with customers in the shopping center. Elena Perova | Istock | Getty ImagesJust ahead of the holiday season, Walmart had encouraging news for inflation-weary shoppers: Prices on food and other staples were falling instead of rising. The retail giant said if the trend continued, it would soon contend with deflation in some of those key household categories, which would be a…

The logo of Home Depot is seen on a signboard near its store in Seattle. Home Depot is expected to report its quarterly earnings this week. Toby Scott | Lightrocket | Getty ImagesHome Depot will report its fiscal fourth-quarter earnings on Tuesday, as investors look for signs that demand for kitchen appliances and supplies for home improvement projects may be rebounding as inflation cools.Here's what Wall Street analysts are expecting, according to a survey by LSEG, formerly known as Refinitiv:Earnings per share:…

Mathisworks | Digitalvision Vectors | Getty ImagesCorporate America has a message for Wall Street: It's serious about cutting costs this year.From toy and cosmetics makers to office software sellers, executives across sectors have announced layoffs and other plans to slash expenses — even at some companies that are turning a profit. Barbie maker Mattel, PayPal, Cisco, Nike, Estée Lauder and Levi Strauss are just a few of the firms that have cut jobs in recent weeks.Department store retailer Macy's said it will close five…

Combination showing store signage from Aberdrombie & Fitch and Lululemon stores.Getty ImagesAbercrombie and Fitch, Lululemon and American Eagle Outfitters all raised their fiscal fourth-quarter outlooks Monday, saying they drew customers looking for holiday gifts and items for themselves in November and December.Yet Wall Street greeted the news with varying levels of enthusiasm Monday morning. Shares of Abercrombie and Amercian Eagle shot up about 7%. And Lululemon sank by more than 1%, after investors weighed the…

An exterior view of a Lowe's home improvement store. Lowe's Companies, Inc. reports quarterly earnings on Tuesday, May 23, 2023. Paul Weaver | Lightrocket | Getty ImagesLowe's on Tuesday lowered its full-year sales outlook, after customers spent less on do-it-yourself projects and caused its fiscal third-quarter sales to tumble nearly 13% year over year.The home improvement retailer said it now anticipates sales will total about $86 billion for the fiscal year. It had previously expected a range of $87 billion to $89…

Barbie dolls (R) are displayed for sale ahead of Black Friday at a Walmart Supercenter on November 14, 2023 in Burbank, California. Mario Tama | Getty Images News | Getty ImagesShoppers may get an early present this holiday season: Falling prices in many gift-giving categories.On Thursday, Walmart CEO Doug McMillon said deflation could be coming as general merchandise and key grocery items, such as eggs, chicken and seafood get cheaper.He said the retailer expects some of the stickier higher prices, such as the ones for…

A Target department store in North Miami Beach, Florida, on May 17, 2023.Joe Raedle | Getty ImagesTarget will report fiscal third-quarter earnings on Wednesday, as the company tries to claw its way back from a string of disappointing results and high-profile setbacks.Investors will listen for any signs that the retailer's sales are turning around as Target gets ready for the crucial holiday season.Here's what Wall Street expects for the company for the three-month period, based on a survey of analysts by LSEG, formerly…

Vehicles fill the parking lot of a Home Depot store in Bloomsburg. Paul Weaver | Lightrocket | Getty ImagesEven as Home Depot forecast sales declines, the retailer had good news for investors and consumers on Tuesday."I think the most important observation we've made is that the worst of the inflationary environment is behind us," Chief Financial Officer Richard McPhail said on an earnings call.Shares of the retailer rose by nearly 6% in early trading after the company beat quarterly earnings expectations, driving a rally…