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Richard McPhail couldn't - 1 McPhail - 1 Marvin Ellison - 1 Bradley Thomas - 1 Greg Melich - 1 it's - 1 Michael Lasser - 1 Melich - 1
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Search resuls for: "Edward Decker"


5 mentions found


☆ Rising home equity levels could help stoke pent-up demand for these two stocks
  + stars: | 2024-05-27 | by ( Brian Evans | ) www.cnbc.com   time to read: +8 min
How long this trend will last is unclear, though it's clear a lot will depend on the direction of interest rates. This dynamic isn't surprising given a high interest rate environment that has pressured consumers. "Elevated interest rates are causing customers to defer their large discretionary projects," UBS analyst Michael Lasser said. "This means that a recovery should be robust as interest rates move lower." "Existing home sales also continue to be a material headwind to remodel activity as long as interest rates remain relatively high," Badishkanian said.
Persons: Richard McPhail couldn't, McPhail, Marvin Ellison, Bradley Thomas, Greg Melich, it's, Michael Lasser, Melich, bode, Wolfe, Greg Badishkanian, Badishkanian, Edward Decker, KeyBanc's Thomas, Ellison, Lowe's, Thomas, Lowe's Ellison Organizations: Home, Federal Reserve, Depot, CNBC, UBS, Home Depot, Wolfe Research, Lowe's, Pro, FactSet Locations: Lowe's, Friday's
☆ U.S. travel companies experience high demand but economic worries cloud outlook
  + stars: | 2023-02-24 | by ( Doyinsola Oladipo | ) www.reuters.com   time to read: +3 min
NEW YORK, Feb 24 (Reuters) - Fears of recession and the impact of inflation on consumer budgets could curb a rebound in travel demand reported by U.S. travel companies in the fourth quarter, although bookings are holding up so far this year, analysts said. U.S. travel spending in December 2022 totaled $97 billion, 3% above 2019 levels and 7% above 2021 levels, according to the U.S. Travel Association. The demand contrasts with declining home improvement sales and other discretionary purchases that have hurt furniture stores and retailers like Home Depot. International travel spurred demand growth for Airbnb and Marriott International Inc (MAR.O) in the fourth quarter. Group bookings are still down 15% compared to pre-pandemic levels, while headwinds in several industries continue to affect business travel, said Truist's Scholes.
☆ 'Stubborn' food inflation leaves U.S. shoppers with slim appetite for other goods
  + stars: | 2023-02-23 | by ( Siddharth Cavale | ) www.reuters.com   time to read: +4 min
Higher prices on food led to soft sales of electronics, toys, home and apparel in the most recent quarter at Walmart. McMillon said he believed inflation on dry groceries and items made for immediate consumption would remain high "for a while". "Food inflation has been the most stubborn of all the categories," Walmart's U.S. CEO John Furner said. Sharp sales declines in categories other than food are forcing retailers like Target (TGT.N) to slash prices on everything from toys to electronics. While groceries comprise 56% of Walmart sales, they make up about 20% of sales at Target, which depends more on home furnishings, apparel and beauty.
☆ Brace for a home improvement slump as consumers battle inflation, debt, and pressure on house prices, Home Depot warns
  + stars: | 2023-02-22 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +4 min
Home Depot warned the boom may be over as higher prices and borrowing costs squeeze consumers. Here's a closer look at the US home improvement boom, and why Home Depot warned this week it might be over. Why might the home improvement boom be over? The upshot is that consumers are spending less on goods, battling rising prices and borrowing costs, and feeling less wealthy. Against that challenging backdrop, Home Depot warned on Tuesday that it anticipates flat sales and a 5% drop in diluted earnings per share.
☆ Walmart and Home Depot fire off warnings about the American consumer
  + stars: | 2023-02-21 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +3 min
Walmart and Home Depot warned that sales growth is likely to slow as shoppers look to save money. Between inflation, rising interest rates, layoffs, and other uncertainties, the stresses on household bank accounts are mounting, which could spell trouble as consumer spending represents roughly 70% of the US economy. "Prices are still high, and there is considerable pressure on the consumer," Walmart CFO John Rainey said. In Home Depot's case, CFO Richard McPhail told analysts: "We've assumed, like many economists, that we will see flat, real economic growth and consumer spending in 2023." We don't know what happens to consumer spending.
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