While many retailers struggle, Conn’s posted record sales. Jim Cramer finds developments curious.» Read More
Aug 21- No. 2 home improvement chain Lowe's Cos Inc reported a bigger-than-expected rise in quarterly profit and sales on Wednesday as the housing market's recovery encouraged Americans to spend more on their homes.
Lowe's second-quarter net income rose 26 percent, as the retailer and rival Home Depot were buoyed by the housing market's recovery.
NEW YORK, Aug 21- No. 2 home improvement chain Lowe's Cos Inc reported a rise in quarterly profit and sales on Wednesday as U.S. homeowners encouraged by the housing market recovery spent more on their homes. Net earnings rose to $941 million, or 88 cents a share, in the second quarter ended Aug. 2 from $747 million, or 64 cents a share, a year earlier.
Tapering of the Fed's $85 billion monthly bond purchases has been discussed for months, driving interest rates higher.
Although it has been almost all bad news for retailers this summer, several names stand out from the pack and are set to go higher, CNBC's Jim Cramer says.
Home Depot reported earnings Tuesday that topped analysts' expectations, and the company raised its full-year guidance.
With Saks the latest retailer to disappoint with weaker-than-expected earnings, investors are worried about how the retail sector will fare heading into a heavy week of earnings.
most central bankers have been trying to pour cold water on the idea that they would be raising rates any time soon. But the German Bundesbank apparently didn't get the memo.
The Fed gathering in Jackson Hole and the minutes of the last Fed meeting could keep markets volatile in the week ahead.
NEW YORK, Aug 16- After Wall Street's biggest weekly decline since June and the worst week this year for the Dow average, investors will be searching for a rebound. But the best gains may not be at home as investors take notice of an improved outlook in Europe.
There have been concerns over the pace of the housing recovery--and a related field, home improvement--following the rise in rates.
Neonic pesticides are a key part of the bee-killing problem, and "we can start to fix right now in our own backyards," a Friends of Earth researcher says.
It may be that the consumer is not that weak, but rather that the traditional retailers are weak. Consumers are are buying cars, houses and goods on the Internet.
U.S. data is whipsawing Treasury yields. Yet the real story may be retail, where two giants guided lower for the rest of the year.
Check out which companies are making headlines before the bell on Thursday:
Ford, Amazon, Subway, the History Channel, Lowe's and V8 are the "buzziest" brands in the United States, according to the latest bi-annual list from YouGov's BrandIndex.
Lowe's can be a great derivative play on the housing market, and the bulls are sticking with the name at all-time highs.
TORONTO, June 27- Rona Inc, Canada's biggest home-improvement retailer and distributor, will close stores, cut jobs and reduce costs in the second phase of a restructuring plan designed to return it to profitability, the company said on Thursday. Rona hopes the new strategy will help it counter the threat from U.S. competitors Home Depot Inc and Lowe's Cos Inc.
TORONTO, June 27- Rona Inc, Canada's top home-improvement retailer and distributor, will close stores, cut jobs and reduce costs in the second phase of a restructuring plan designed to return it to profitability, the company said on Thursday. Rona hopes the new strategy will help it counter the threat from U.S. competitors Home Depot Inc and Lowe's Cos Inc.
Wal-Mart is said to be considering bids from retirement plan managers to run its $15.6 billion 401(k) program, which has been administered by BofA's Merrill Lynch for 15 years.