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Home Depot said Thursday that it will open four new distribution centers as it chases more sales from remodelers, contractors and other home professionals. Each facility averages approximately 500,000 square feet — about five times the size of the average Home Depot store. That gives Home Depot a lot of room to grow as it adds capabilities to handle pros' entire orders, he said. Home Depot is changing other aspects of its business to support pros who handle complex and pricey projects. He said Home Depot is trying to bring to the pro business what it once did to DIY — turn itself into a one-stop shop.
Persons: Chip Devine, Home Depot's, Devine, Ted Decker, You've Organizations: Home Depot, CNBC, Depot Locations: Detroit , Los Angeles, San Antonio, Toronto, Dallas
I hope President Biden doesn’t show up for his State of the Union address on Thursday with a Snickers bar. Biden is obsessed with high prices because voters are, and he knows that to beat Donald Trump in November he needs to make a strong case that he’s wrestling inflation to the ground. But there are good ways and bad ways to fight inflation. One of the bad ways, I think, is to put the blame on price gouging and corporate greed, as Biden has done on numerous occasions. Gouging refers to abrupt, extreme price increases to take advantage of temporary scarcity, often accompanied by hoarding.
Persons: Biden doesn’t, Biden, Donald Trump Organizations: Politico, Times
Charmed by a City Off Thailand’s Beaten Path
  + stars: | 2024-03-04 | by ( Patrick Scott | ) www.nytimes.com   time to read: 1 min
Thailand is renowned among hard-charging tourists for nightlife in Bangkok, full moon parties on Koh Phangan island and hedonistic walking streets in Pattaya. It’s also a magnet for the bohemian and wellness crowds who flock to the mountain destinations of Chiang Mai and Pai. But mostly ignored by foreign tourists is Lampang, in Northern Thailand. This utterly charming, riverside city of about 90,000 people has preserved the historic architecture and stately squares from its days as a major city in the ancient Lanna kingdom and a hub in the teak lumber trade. Wooden temples from centuries ago and two-story teak mansions from the late 1800s and early 1900s still stand, and alongside the Wang River, the streets in the Kat Kong Ta enclave are like an open-air museum of well-preserved Chinese shophouses and European gingerbread-style buildings.
Persons: Koh, Chiang Mai, Pai Locations: Thailand, Bangkok, Pattaya, It’s, Lampang, Northern Thailand
Two thirds of US consumers shop at Home Depot, and the brand has similar customer loyalty as Lowe's. The store's typical customer is a white baby boomer who earns over $80K a year and owns her home. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Numerator found that Home Depot's typical shopper is a white woman over 60 years old who owns her home in the suburbs. The typical customer now makes 10 trips to Home Depot and spends about $85 per trip for an annual spend of $856, whereas, in last year's report, they spent $1,052 across 12 trips the year before.
Persons: boomer, , Lowe's Organizations: Service, Depot, Home Depot Locations: North America, Atlanta
Jim Cramer says be patient and stick with Home Depot
  + stars: | 2024-02-21 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
CNBC's Jim Cramer told investors to hold on to stock of home improvement retailer Home Depot , even though its most recent quarter lacked luster. "Sure, the quarter wasn't great, but the conference call commentary I found encouraging, which is why I'm willing to be patient and hold on to Home Depot," he said. Cramer called management's outlook "appropriately conservative," saying the company is optimistic, but not yet ready to declare a decisive turnaround. Now that inventory is under control, the company is poised for better future, Cramer said. "Besides, I'm betting that management deliberately gave a conservative forecast—they like to under promise and over deliver at Home Depot."
Persons: CNBC's Jim Cramer, Richard McPhail, Cramer, Ted Decker's, Decker, Depot's Organizations: Home, CNBC, Home Depot, Reserve
Home Depot on Tuesday said quarterly sales declined nearly 3% year over year, but it surpassed Wall Street's earnings and revenue expectations despite the cooler demand. On a call with CNBC, Chief Financial Officer Richard McPhail said demand dipped throughout the year as consumers returned to more typical spending patterns. The home improvement retailer said it expects total sales to grow about 1% in fiscal 2024, which includes an additional week. That compares with a 1.6% increase expected by Wall Street, according to StreetAccount. Home Depot shares fell slightly during early trading Tuesday after the company shared its quarterly results and outlook.
Persons: Richard McPhail, McPhail Organizations: CNBC, Wall, Depot, LSEG, Home Depot
Amy Bass Rodney BedsoleThis time around, football pundits wondered if Super Bowl LVIII would be the coronation of Chiefs coach Andy Reid and the establishment of a Kansas City dynasty with a third title in five years. This Super Bowl matchup, of course, had history. “We’re not done.”Key to any Super Bowl, of course, is the halftime show. Compared to Usher on roller skates, the commercials – which often take center stage of any Super Bowl broadcast — were relatively tame. “Taylor Swift is in Las Vegas,” commentator Ian Rappoport had assured Taylor Nation.
Persons: Amy Bass, Read, Patrick Mahomes, Mecole, ” Hardman, Tom Brady, Michael Che, , Donald Trump’s, Lady Gaga, Amy Bass Rodney Bedsole, Andy Reid, Kyle Shanahan’s, Mike, Taylor Swift, Travis Kelce, Reid, Kelce, Shanahan, Brock Purdy, George Kittle, Swift, Taylor, Purdy, Jake Moody’s, Harrison Butker, Moody, Butker, Mahomes, “ We’re, Usher, Alicia Keys, Lil Jon, Ludacris, Lionel Messi, Dan Marino, Jason Sudeikis shilled, Matt Damon, Ben Affleck, Jennifer Lopez, Dunkin, Robert F Kennedy Jr, , Kennedy, Kennedy Jr’s, Taylor —, “ Taylor Swift, Ian Rappoport, “ I’ll, , Ashley Avignone, Joe Biden, Trump, ” Taylor, Joe Biden ”, Biden, Biden — Organizations: Manhattanville College, CNN, Kansas City Chiefs, San Francisco 49ers, Atlanta Falcons, New England Patriots, Budweiser, Denver Broncos, Chiefs, 49ers, Super, Kansas City, Verizon, PAC, “ GO CHIEFS, NFL, Truth Locations: America, Kansas, San Francisco, Japan, Las Vegas, Mahomes, Cetaphil’s, Massachusetts, Sephora
Nearly half of all flash flood deaths are vehicle-related, experts say, which is why you should never drive into a flooded street. Here’s what to do in advance — and in the moment — to get through a flash flood safely. A “flash flood warning” means a flash flood is imminent or already occurring, and you should immediately move to higher ground if you’re outside or in a basement apartment. The most dire alert is a “flash flood emergency,” which indicates that not only is flooding occurring, but it’s posing a severe threat to human life. “People need to realize that most people who lose their footing in a flash flood don’t get out,” she said.
Persons: there’s, , Bonnie Schneider, Schneider, it’s, Hurricane Ida, You’ll, Ready.gov, David Markenson, ‘ It’s, Sabine Marx, I’m, Julie Munger, Munger, , Dr, Markenson, you’re, don’t, they’re, Ms, Lynn Burttschell, Burttschell, Eugene Resnick, , ” Susan Shain Organizations: National Weather Service, Federal Emergency Management Agency, Cross Training Services, Columbia University’s National Center for Disaster Preparedness, Sierra Rescue, FEMA, Wimberley, Metropolitan Transportation Authority, New York Times Locations: United States, New York City, New York, Madison, Wis
Nearly half of all flash flood deaths are vehicle-related, experts say, which is why you should never drive into a flooded street. Here’s what to do in advance — and in the moment — to get through a flash flood safely. A “flash flood warning” means a flash flood is imminent or already occurring, and you should immediately move to higher ground if you’re outside or in a basement apartment. The most dire alert is a “flash flood emergency,” which indicates that not only is flooding occurring, but it’s posing a severe threat to human life. “People need to realize that most people who lose their footing in a flash flood don’t get out,” she said.
Persons: there’s, , Bonnie Schneider, Schneider, it’s, Hurricane Ida, You’ll, Ready.gov, David Markenson, ‘ It’s, Sabine Marx, I’m, Julie Munger, Munger, , Dr, Markenson, you’re, don’t, they’re, Ms, Lynn Burttschell, Burttschell, Eugene Resnick, , ” Susan Shain Organizations: National Weather Service, Federal Emergency Management Agency, Cross Training Services, Columbia University’s National Center for Disaster Preparedness, Sierra Rescue, FEMA, Wimberley, Metropolitan Transportation Authority, New York Times Locations: United States, New York City, New York, Madison, Wis
AdvertisementMike Coleman has seen a lot in his five years selling vintage furniture. Reselling high-quality, vintage furniture is a growing business. taikrixel/Getty ImagesHow furniture materials got so…cheapInnovation in materials during the 20th century disrupted the furniture business. It's not just about where you look for quality furniture, but also about rethinking the decision-making process before purchasing a piece. Coleman, of Big Mike's, said even he acknowledges that in today's world, it's impossible to buy vintage 100% of the time.
Persons: , Mike Coleman, I'm, Coleman, CoCo Ree Lemery, grandkids, Lemery, Jonathan Adler, it's, There's, she'd, James W, Gayle DeBruyn, Anthropologie, DeBruyn, Gary Coronado, Big Mike's Organizations: Service, Purdue University, Consumers, Furniture, Kendall College of Art, Ferris State University, Urban, Los Angeles Times, Facebook, Ikea Locations: Chicago, China, Williams Sonoma, India, Zara, Banana Republic, Watts, Los Angeles , CA
JPMorgan upgrades Dollar Tree to overweight from neutral JPMorgan said in its upgrade of the stock that it's a "self-help" story. Bernstein upgrades Hershey to outperform from market perform Bernstein said in its upgrade of the chocolate maker that market share trends are improving. " Goldman Sachs reiterates Nvidia & Micron as buys Goldman said it's standing by shares of Nvidia and Micron. Bank of America upgrades ZoomInfo to buy from neutral Bank of America said the software company is a "self-help" story. Bernstein reiterates Qualcomm as outperform Bernstein said it's bullish heading into Qualcomm earnings later this week.
Persons: Wells, Jefferies, it's, Evercore, Bernstein, Hershey, Goldman Sachs, Goldman, Raymond James, Sherwin, Williams, Morgan Stanley, William Blair, Morgan Stanley downgrades Brown, Forman Organizations: UBS, Amazon, Amazon Web Services, Citi, Air, Deutsche Bank, TFI, Deutsche, JPMorgan, Warner Brothers Discovery, Microsoft, Meta, YouTube, Nvidia, Micron, MU, Netflix, Barclays, Apple, Colgate, Palmolive, " Bank of America, of America, Beam Therapeutics, Bank of America, Builders, Devices, AMD, Qualcomm Locations: Norfolk Southern, Atlanta
Dollar Tree — Shares of the discount retail chain popped 1% following an upgrade to overweight from neutral at JPMorgan. SoFi Technologies — Shares of the financial services provider surged 21% after the company reported its fourth-quarter financial results. ZoomInfo Technologies — Shares jumped more than 6% after Bank of America upgraded shares to buy from neutral on revenue growth acceleration. The firm cited tailwinds including improving market share and volume trends, as well as an attractive valuation and strong top-line growth. Flywire — Shares of the fintech company gained 3.75% after being upgraded by Morgan Stanley to overweight from equal weight.
Persons: McGrath RentCorp, McGrath, SoFi, iRobot, Koji Ikeda, Wells, Flywire, Morgan Stanley, Beam, , Samantha Subin, Yun Li, Michelle Fox, Alex Harring, Lisa Kailai Han, Sarah Min, Pia Singh, Tanaya Macheel Organizations: WillScot Mobile, JPMorgan, Wall, Amazon, Bain Capital, Western Digital, Kioxia Holdings, Bloom Energy, Bank of America, ZoomInfo, Hershey —, AllianceBernstein, Warner Bros, , Beam Locations: Japan, AATD
American Airlines — The airline stock added 1.5% following an upgrade to buy from neutral at Citi. "North America's network carriers' diversified revenue streams and solid demand for premium cabin offerings appear to provide them with superior positioning in this post-pandemic environment," wrote analyst Stephen Trent. Builders FirstSource — The building materials manufacturer edged 2% higher following an upgrade to buy from neutral at Bank of America. ZoomInfo Technologies — The software stock popped 5.5% after Bank of America analyst Koji Ikeda upgraded it to buy from neutral. "We believe it is a classic self-help story that is set to outperform," the analyst wrote, underscoring the company's revenue growth reacceleration and new AI products as potential catalysts.
Persons: Stephen Trent, Flywire, Morgan Stanley, Omar Nokta, Hershey, Wells, Steven Cahall, , Cowen, Rafe Jadrosich, Julien Dumoulin, Smith, FactSet, Koji Ikeda, McGrath RentCorp — McGrath RentCorp, CNBC's Michelle Fox, Alexander Harring, Sarah Min, Jesse Pound Organizations: JPMorgan, American Airlines —, Citi, Zim Integrated Shipping Services —, Jefferies, Warner Bros, Bank of America, Bloom Energy, Koninklijke Philips —, Food and Drug Administration, Technologies, WillScot Mobile Locations: Albemarle, Netherlands
SPI owns more than 2.4 million acres of timberland in California, Oregon, and Washington, The Land Report says. Red Emmerson's sons, George and Mark, are chair and CEO of the company. AdvertisementYou've likely never heard of Red Emmerson and his sons George and Mark. But they're the US' largest private landowners – and they've held onto the title since 2021, according to the latest edition of The Land Report. The family owns more than 2.4 million acres of timberland in California, Oregon, and Washington, The Land Report said.
Persons: Red Emmerson's, George, Mark, , Red Emmerson, they've Organizations: Sierra Pacific Industries, Service, Business Locations: timberland, California , Oregon, Washington
Business Insider spoke with two former Home Depot employees, Janet Federico and Matthew De Fiebre, about things they wish customers would stop doing in the big-box store. De Fiebre, who worked as a garden and order-fulfillment associate in 2019 and 2020, said showing employees grace goes a long way. There are lots of different departments in each Home Depot store. AdvertisementBut Federico told BI that too many people ignored the options, leaving the burden on the employees. "I can't eyeball measurements from a photo, and holding up your hands and saying, 'about this wide' is not helpful," Federico told BI.
Persons: , Janet Federico, Matthew De Fiebre, Fiebre, aren't, De Fiebre, Federico, it's Organizations: Service, Home Depot, Business, Home, Staff, Depot Locations: Austin, Texas, Home
Thoughts and prayers for the players who only kept full PGA Tour cards without guaranteed access to the signature events. And now the signature events will have $20 million purses (same as LIV) with $4 million to the winner (same as LIV). “How many golf fans actually know what the PIP on the PGA Tour is?” he wrote on Instagram, posting the results for all to see. “There’s 150-200 members of the PGA Tour and they just spent $100 million on 20 players. Lashley wasn’t criticizing the PGA Tour on behalf of everyone, but he’s not a lone voice.
Persons: won’t, Jay Monahan, LIV Golf, LIV, Barbara Nicklaus, Nate Lashley, Rory McIlroy, Tiger Woods, pipping, Woods, McIlroy, Jon Rahm, Jordan Spieth, Scottie Scheffler, , , Wyndham Clark, Clark, Lashley, Scheffler, Cameron Smith, Lashley wasn’t, he’s, Emiliano Grillo, ” Grillo, you’re, We’ve, Lanto Griffin, ” Griffin, Golfweek, I’ve, It’s, it's, ___ Organizations: Players, FedEx, Saudi, Sports Business, Lashley, PGA, PGA Tour, Wells, U.S ., Ryder, He's, Colonial, Torrey Pines Locations: Rome, Bahamas
Here are Monday's biggest calls on Wall Street: Deutsche Bank reiterates Saia as buy Deutsche said the transports company has "earnings power." JMP downgrades Okta to market perform from market outperform JMP downgraded the stock after a recent security incident. "We downgrade our rating to Market Perform from Under Review (Market Outperform prior) on Okta, Inc. in the wake of the most recent security incident announced on October 20." Wells Fargo reiterates Dollar Tree as overweight Wells said it's standing by its overweight rating on the stock heading into earnings next week. Melius upgrades Carnival to buy from hold Melius said it's "hard to not become incrementally bullish" on the stock.
Persons: Saia, Key, Wells, DLTR, Raymond James downgrades Weyerhaeuser, Raymond James, Redburn, Bernstein, Tesla, underperform Bernstein, Needham, Aston Martin, Jefferies, Pulte, Melius Organizations: Deutsche Bank, Deutsche, Bloom Energy, Clean Tech, Citi, New, Ulta Citi, Inc, Dominion, Weyerhaeuser, UBS, Waste Management, Novartis, EV, Pulte Group, RBC, GE Healthcare, Nvidia
Falling prices of commodities like copper and lumber “negatively impacted” Home Depot’s third-quarter earnings, CEO Ted Decker told investors on the company’s earnings call earlier this week. In particular, they're noticing consumers pushing off bigger-ticket purchases like appliances, which have become cheaper compared to a year ago. But the problem with deflation is that when people begin to expect lower prices in the future, they have little incentive to make purchases right now. In China, however, prices across all goods and services were 0.2% lower in October compared to the same month last year. He also warned that US-based Walmarts could enter “a deflationary environment.”Besides eggs, other cheaper goods include airfares, gasoline, appliances and smartphones.
Persons: Cathie Wood, , Ted Decker, Billy Bastek, ” Bastek, Justin Sullivan, Doug McMillon, Preston Caldwell, “ it’s Organizations: New, New York CNN, Tech, ARK Investment Management, Wall Street, Home Depot, Walmart, Morningstar, CNN Locations: New York, United States, China
A Japanese children’s book called “I Want a Big Tree” sparked the dream of having a treehouse one day. A family affair“I didn’t get much support initially when I had this [treehouse] idea,” Kikugawa says. Now we are working together through this sustainable treehouse resort to protect it and send a message to others on its values.”The rustic view from one of Treeful's rooms. Building a treehouse, building a legacySeven years after Kikugawa started building a treehouse, the resort opened in 2021. Treeful Treehouse Sustainable Resort, 578, Genka, Nago City, Okinawa, 905-1141, Japan.
Persons: Satoru Kikugawa, Kikugawa, , ” Kikugawa, Maha, Donna Organizations: CNN, Inc, YouTube, University of Miami, CNN Travel, Guinness World Records, USAID Locations: Tokyo, Borneo, Okinawa prefecture, Okinawa, Costa Rica, , Japan, Cambodian, Phnom, Siem Reap, It’s, Cambodia, OKA, Genkawa, Nago City
Americans have put big renovations and discretionary home-improvement projects on the back burner as they battle sticky inflation, higher interest rates and lingering caution around the economy. "We see great (customer) engagement... with smaller projects," CEO Ted Decker said on an earnings call. Per-share profit of $3.81 topped estimates of $3.76. "With continued pressure in certain big-ticket discretionary categories and a trend to smaller projects, HD took the conservative approach – which we agree with," Evercore analyst Greg Melich said. It now expects annual per-share profit to fall 9% to 11%, compared with a 7% to 13% slump estimated previously.
Persons: Lucy Nicholson, Ted Decker, Sarah Henry, Henry, Greg Melich, Deborah Sophia, Sriraj Organizations: REUTERS, U.S, Logan Capital Management, Home Depot, Thomson Locations: Los Angeles , California, Bengaluru
Lawmakers said they expect the Louisiana Republican to unveil a continuing resolution or "CR" to avert a partial government shutdown as late as Saturday. Johnson can afford to lose no more than four Republican votes from his slim 221-212 House majority on legislation opposed by Democrats. But he is under pressure from Republican hardliners to lumber any CR with spending cuts and policy riders Democrats uniformly reject. "If there's any kind of CR, there has to be spending reductions," Representative Chip Roy, a prominent conservative, told reporters. House Republicans are trying to pass a full slate of 12 appropriations bills for fiscal 2024, which began on Oct. 1.
Persons: Julia Nikhinson, Mike Johnson, Joe Biden, Biden, Chuck Schumer, Johnson, Chip Roy, Tom Cole, Cole, We've, Steve Womack, Republican centrists, Kevin McCarthy, McCarthy, It's, Ralph Norman, David Morgan, Nandita Bose, Susan Heavey, Scott Malone, David Gregorio, Mark Porter Organizations: U.S, Capitol, Congress, REUTERS, Rights, . House, White, Treasury, Lawmakers, Louisiana Republican, Democratic, Republican, House Republicans, Internal Revenue Service, District of, Food and Drug Administration, Amtrak, Biden, Republicans, Caucus, Thomson Locations: Washington , U.S, Louisiana, Washington, District of Columbia
Surging olive oil prices, driven in part by two years of drought in Spain, has meant opportunity for criminals across the Mediterranean. Warehouse break-ins, dilution of premium oil with inferior product, and falsification of shipping data are on the rise in olive-growing heartlands of Greece, Spain and Italy. Bekas, who owns 5,000 olive trees, suffered repeated raids by thieves before deciding to take an early harvest. After decades of growth, the global olive oil market has been disrupted by a nearly two-year drought in Spain, which typically accounts for about 40% of world supply. The regional agricultural association issued a plea for police assistance following reports that 100 olive trees were destroyed or seriously damaged in a single incident last month.
Persons: Konstantinos Markou, , ” Markou, Neilos Papachristou, Christos Bekas, we’ve, , That's, Gennaro Sicolo, Ciaran Giles, Colleen Barry, Raf Casert Organizations: Farmers Locations: SPATA, Greece, Athens, Spain, Italy, Puglia, Papachristou's, Bari, Madrid, Milan, Brussels
Chuck: I grew up on a fourth-generation dairy farm in Wisconsin, and my intention was actually to become a farmer. Chuck: We wanted a forest and pasture, and we wanted it to be within 30 minutes of a more developed town. We knew what we were going to do, and those kinds of life events just change your timeline a bit. Brooke: It was a matter of getting a well put in, getting electrical put in, getting the mail to recognize us. AdvertisementAdvertisementChuck: We have nine miles of trails that we've already mapped out on our property — just the absolute stunning beauty.
Persons: Brooke, Chuck Anderson, They're, , I'd, Chuck, we'd, Brooke Anderson, We've, homesteading, we've, Brooke Anderson Brooke, haven't, Brooke :, they've, I'm, She's, We're Organizations: Service, YouTube, Virginia Tech, Andersons, Raleigh . Locations: Virginia, Wisconsin, Raleigh, COVID, We're, Blacksburg, Brooke, Roanoke
A nonpartisan business group that advocates for clean energy estimates that 403,000 jobs will be created by the 210 major energy projects announced since the Inflation Reduction Act took effect in mid-2022. Battery storage is expected to support 48,000 jobs, and solar is expected to support 35,000, both annually for five years. “As community colleges develop a rhythm for training the type of workers these companies need, that’s going to enhance the appeal of our workforce and state as a business location to more and more these clean energy companies," he said. Although investments in clean energy are “on hyperdrive,” other factors were supporting the clean energy labor transition before the IRA, said Joseph Kane, a researcher at the Brookings Institution nonprofit research organization. Labor shortages in the clean energy sector, particularly in construction, manufacturing, and electrical work are notable, said Thomas Kwan, director of sustainability research at Schneider Electric, an energy management and industrial automation company.
Persons: , Bob Keefe, Mateo Jaramillo, ” Jaramillo, Christopher Chung, , Chung, Joseph Kane, Kane, Thomas Kwan, Kwan Organizations: Environmental Entrepreneurs, EV, Economic Development, of, Brookings Institution, Labor, Schneider Electric, AP Locations: U.S, Weirton , West Virginia, West Virginia, of North Carolina, North Carolina
The US housing market looks like it's headed for a recession, Wells Fargo has warned. AdvertisementAdvertisementThe Federal Reserve's aggressive interest-rate hikes could be about to trigger a housing-market recession that echoes the slowdown of the 1980s, Wells Fargo has warned. "Although mortgage rates may gradually descend once the Federal Reserve begins to ease monetary policy, financing costs are likely to remain elevated relative to recent norms," they added. Please Lower Interest Rates." AdvertisementAdvertisement"The plea for assistance from housing industry participants, both in the early 1980s and more recently, illustrates the severe impact higher interest rates can have on the residential sector," Dougherty and Barley wrote.
Persons: Wells Fargo, , Charlie Dougherty, Patrick Barley, Freddie Mac, Jackson, Paul Volcker, National Association of Homebuilders, Jerome Powell, Dougherty, Barley Organizations: Service, Federal, Fed, Wells, National Association of Realtors, Mortgage Bankers Association, National Association of Locations: Redfin
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