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That has allowed forests to become four to seven times more densely wooded than they once were, Safford said. Fire scientists advocate more deliberate burning at low-to-moderate severity to clear vegetation that makes forests susceptible to big fires. Susan Britting, executive director of one of the groups, Sierra Forest Legacy, acknowledged any cutting triggers skepticism because loggers historically took the largest, most marketable trees. But she said thinning trees up to a certain diameter is acceptable, though she prefers prescribed burning. Homeowners are anxious prescribed fires will jump perimeters and destroy houses.

Persons: ” Hugh Safford, Davis, John Muir, What’s, Safford, “ We're, ”, Brandon Collins, Chad Hanson, there's, Hanson, Christy Brigham, ” John Muir, Jeffrey, “ John Muir, ” Safford, gesturing, “, it's, Weeks, Susan Britting, ” Britting, John Muir Project's Hanson, Safford —, that's, what’s Organizations: University of California, Eldorado National, Sierra, U.S ., American Geophysical Union, John Muir Project, Earth Island Institute, Sequoia, National Parks, National Park Service, U.S . Forest Service, Service, Forest Service, Infrastructure Law, Sierra Forest Locations: Calif, Lake, Eldorado, Sierra Nevada, U.S, California, . California, Yosemite, Sequoia, Canyon, —, Berkeley, Lake Tahoe, Safford, New, Sierra

☆ $100 billion property giant Prologis sealed a huge EV charging station deal. It hints at a new opportunity for real estate investors.
▼ + stars: | 2023-10-23 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +16 min

Late last year, it installed 38 chargers for electric trucks operated by Maersk at two sites in the Los Angeles area. There were 1.8 million conventional medium and heavy duty commercial vehicles operating in the state in 2021, according to data from the California Air Resources Board. Arnold said electric charging sites might be more lucrative than traditional industrial outdoor storage properties. The EV-charging business' chicken-and-egg problemOne of the biggest constraints to the development of charging sites is the availability of power. PDS operates about 320 diesel rigs, Gillis said, but because of the rules, will purchase "20 to 30 electric trucks" a year to steadily electrify its fleet.

Persons: Henrik Holland, John O'Leary, O'Leary's, Holland, Crawford Arnold, Arnold, Southern California Reuters Arnold, Vernon, Rivian, Gage, Zeina, Azzi, she'd, Jim Hurless, Hurless, Michael Bresnahan, Bresnahan, Elon Musk, Tesla, Greg Pearson, Pearson, Frank Schulz, Marijan Murat, Jim Gillis, Gillis, Emil Abdelshehid, We're, Nikola, Moshe Cohen, Cohen Organizations: Shell, Prologis, Maersk, Daimler Truck North, Mercedes, Freightliner, Government, California Air Resources Board, US Department of Energy, IOS, Investors, Shipping, Southern California Reuters, Amazon, FedEx, UPS, Colorado ., Chateau Energy Solutions, Tesla, Klabin, Getty, Los, Pacific Drayage Services, Los Angeles Department of Water, PDS, Volvo, Inc Locations: Southern California, Danish, Los Angeles, Long, Los Angeles County, Torrance, Daimler Truck North America, California, Vernon, of Long Beach, Newark , New Jersey, Texas, New York City, New Jersey, Colorado, Inland, Fontana, San Bernardino, Brooklyn

Harper, who also walked, scored twice and knocked in two runs, hit his 10th homer in two postseasons with the Phillies. The Diamondbacks were simply the latest team to unravel under the red storm of 45,396 towel-waving, deliriously-cheering fans at Citizens Bank Park. “Schwarber starting the game off right there was huge for us.”Those runs proved crucial for the Phillies. GOING DEEPSchwarber's fourth leadoff homer in the postseason moved him past Jimmy Rollins and Derek Jeter for most in baseball history. Castellanos' five homers in his last three postseason game — he hit two in consecutive games against Atlanta — made him the second player to hit those marks.

Persons: — Bryce Harper, Kyle Schwarber, Nick Castellanos, Harper, “ I’ve, ”, Zack Wheeler, Wheeler, José Alvarado, Craig Kimbrel, Schwarber, Zac Gallen's, “, ” Harper, “ There’s, —, Castellanos, Travis Kelce, Taylor Swift —, Jason Kelce, Travis, Jason, Trea Turner, Realmuto, “ Gallen, he’s, “ Schwarber, Geraldo Perdomo, Seranthony Domínguez, Alvarado, Emmanuel Rivera, Jimmy Rollins, Derek Jeter, Louis, Kolten Wong, Tampa Bay's Evan Longoria, Willie Aikens, Atlanta —, Reggie Jackson, Merrill Kelly, RHP Aaron Nola, Nola, ” Nola, I’ve Organizations: PHILADELPHIA, Philadelphia Phillies, Arizona Diamondbacks, Phillies, National League, Diamondbacks, Arizona, Brewers, Dodgers, The Diamondbacks, Citizens Bank, Philadelphia, Bros, Chiefs, Eagles, Gallen, NL, St, Kansas, Atlanta, New York Yankees, NEXT Arizona Locations: Arizona, South Jersey, Tampa, Philadelphia

BOWLING GREEN, Ky. (AP) — Republican voter Mark Cook stuck with his party in Kentucky's last election for governor. Once again, Warren County, which includes the leafy, fast-growing college town of Bowling Green, looms as a potential swing area. Those undecided voters included Carol Martin of Bowling Green, who wanted to hear more from both candidates. “I believe him," the retiree said while strolling through a downtown Bowling Green park. "And what you see is what you get.”A Republican lawmaker from Bowling Green had a different view.

Persons: Mark Cook, Andy Beshear, Cook, Donald Trump, Joe Biden, Beshear, “ He's, ” Cook, “ I’ve, I’m, Daniel Cameron, Kentuckians, Matt Bevin, Trump, Cameron, ”, Scott Lasley, “, Carol Martin, Martin, “ I’m, Bevin, Dale Chaffin, Chaffin, Still, what's, Donald Kubeny, Roe, Wade, he’s, Linda King's, ” King, Gary Jolly, Susann Davis, ” Davis, Olivia Thomas, Patti Minter, it’s, Minter, Sen, Mike Wilson, Daniel Organizations: — Republican, Republican, Democratic, Bluegrass State, ”, Beshear, Western Kentucky University, National Corvette Museum, Bowling Green, Northern Kentucky University, “, Democrat, Cameron, Supreme, Bowling, GOP, reined, Former, Bowling Green Democrat Locations: Ky, Kentucky's, Kentucky, Bowling, Appalachia, Mississippi, Warren County, It's, Louisville, Western Kentucky, Fayette County, Lexington, ”, Highland Heights, bologna, U.S, Bowling Green

WASHINGTON (AP) — The Treasury Department said Thursday that it has imposed its first set of sanctions on two companies that shipped Russian oil in violation of a multinational price cap. A ship owned by the Emirates-based company Lumber Marine carried oil priced above $75 a barrel from a Russian port. Separately, a vessel owned by Turkey-based Ice Pearl Navigation ferried oil from Russia priced at $80 a barrel. The administration has argued that the cap has been successful, leading to a 45% drop in Russian oil tax revenue over the past year. The coalition enforcing the price cap also released a set of recommendations to improve compliance within the maritime oil industry.

Persons: Biden Organizations: WASHINGTON, Treasury Department, European Union, Seven, United Arab, Emirates, Lumber, Pearl Navigation Locations: United States, Australia, Russia, Ukraine, United Arab Emirates, Turkey, U.S, Moscow

India is by far Canada's largest source of global students in the country's fast-growing international education business, making up for roughly 40% of study permit holders. International students contribute over C$20 billion ($14.6 billion) to the Canadian economy each year. Reuters spoke to more than a dozen universities and consultants in Canada and India who said they were taking measures to reassure students. Last week, Canadian Immigration Minister Marc Miller described international students "an asset that is very lucrative". In Punjab's Amritsar, home to the Golden Temple, one of the holiest sites in Sikhism, over 5,000 students moved to Canada last year.

Persons: Justin Trudeau, Hardeep Singh Nijjar, We've, Joseph Wong, Ashok Kumar Bhatia, John Tibbits, Tibbits, Marc Miller, Rhonda Lenton, Jiwan Sharma, Melanie Joly, Gurbakhshish Singh, Nivedita Balu, Wa, Manoj Kumar, Denny Thomas, Josie Kao Organizations: Canada's, Canadian, Reuters, University of Toronto, Reuters Graphics, Association of Consultants, Overseas Studies, Conestoga, York, Taxi, Thomson Locations: India's, Vancouver , British Columbia, Canada, TORONTO, AMRITSAR, India, New Delhi, British Columbia, Kitchener , Ontario, Punjab, Punjab's Amritsar, Ottawa, Amritsar, Wa Lone, Toronto

☆ Amazon dominated the first cloud era. The AI boom has kicked off Cloud 2.0, and the company doesn't have a head start this time.
▼ + stars: | 2023-10-04 | by ( Alistair Barr | ) www.businessinsider.com time to read: +11 min

There's a new stack of hardware, software, tools, and services that will power AI applications for years to come. Cloud 2.0Another key point here: Most AI developers already know how to use CUDA and Nvidia GPUs. Arguably, Nvidia has already created an AI cloud platform – as AWS once did for the Cloud 1.0 era. James Hamilton is an AWS cloud infrastructure genius who can take on Nvidia, even if the chipmaker has a major head start. Her startup spent months building a data center from scratch to help customers train AI models.

Persons: —, Jensen Huang, Nvidia Rick Wilking, Andrew Ng, CUDA, Michael Douglas, Bernstein, Douglas, Luis Ceze, Ceze, It's, Andy Jassy, Adam Selipsky, James Hamilton, Oren Etzioni, Claude, Dario Amodei, Anthropic Anthropic, Noah Berger, Sharon Zhou, Zhou, Lamini didn't, Etzioni Organizations: Amazon Web Services, Nvidia, Service, Home Depot, AWS, VMware, Cloud, Madrona Venture, Amazon, Amazon Web, Annapurna Labs, Intel, AMD Locations: San Francisco, Seattle, Selipsky

☆ The Great Zelle Pool Scam
▼ + stars: | 2023-10-01 | by ( Devin Friedman | ) www.businessinsider.com time to read: +38 min

When I asked Chase to discuss Zelle fraud, I received an email saying, "Unfortunately, we don't have anyone available for an interview." The way the email messages from Gary were subliterate in a completely different way from the way a classic Gary email is subliterate. When Gary Kruglitz told us to Zelle him, he didn't really tell us to Zelle him. Out of all the kinds of money, money to build a pool is probably the very best kind of money for the world to suffer the loss of. It's possible that the government will eventually be moved to safeguard consumers against Zelle fraud.

Persons: Madison Ketcham, Gary Kruglitz, Gary, couldn't, he'll, Gary —, —, Cheryl, Sheryl, Sheryl —, we'd, Jeff Allen's, didn't, Jeff, Krystal, we'll, He'd, you've, Karen, I'm, she'd, Yellllow, Zelle, Chase, Sen, Elizabeth Warren, there's, That's, It's, Jesus, who'd, Donald Trump, Gary Kruglitzes, Cheryls —, Yasmine48, Nixon, Evan Kohlmann, cybercrime, we've, I've, Kohlmann, Guess, Let's, that's, Elizabeth Warren's, it's, they're, Warren's, Warren, I'd, they'd, blinked Organizations: Boston Pops, The New York Times, New York Times, Chase, Bank of America, PNC, US Bank, PayPal, Disney, NBC, Warner Bros, Netflix, JPMorgan Chase, Bank —, of, Professionals, Justice Department, Northeast . Contractors, Cloudburst Technologies, Facebook, FBI, Mafia, Massachusetts State Police, Monterey Police Department, Police Locations: Massachusetts, Lyme, Tennessee, Wells Fargo, Truist, Silicon Valley, Amsterdam, Northeast, what's, Paxful, Estonia, Korea, Monterey , Massachusetts, Monterey

☆ 68-year-old has spent 50 years at the same company as an engineer, even without a college degree—this is his one regret
▼ + stars: | 2023-10-01 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +2 min

Kip Turner joined AT&T when he was 18 years old without a bachelors degree and learned everything for his engineering career on-the-job. In the summer of 1973, Turner drove to Little Rock for an interview and joined AT&T as a station installer. Turner joined AT&T without a bachelor's degree and has learned everything on the job. Kip Turner, 68, joined AT&T shortly after high school and has been with the company his entire 50-year career. "I would have loved to have completed an engineering degree," he says.

Persons: Kip Turner, he'd, Turner, he's Organizations: AT, Arkansas State University, Southwestern Bell Telephone, Little, CNBC, T, Notre Dame, University of Oklahoma, Champlain College , North, & $, & $ Locations: Champlain College , North Carolina

☆ Zelle Fraud: I Got Scammed Out of $31,000 and My Bank Didn't Care
▼ + stars: | 2023-10-01 | by ( Devin Friedman | ) www.businessinsider.com time to read: +38 min

Because a lot of bank branches were still closed, and the crew wanted their money, he requested that we transfer the money via Zelle. When I asked Chase to discuss Zelle fraud, I received an email saying, "Unfortunately, we don't have anyone available for an interview." The way the email messages from Gary were subliterate in a completely different way from the way a classic Gary email is subliterate. When Gary Kruglitz told us to Zelle him, he didn't really tell us to Zelle him. It's possible that the government will eventually be moved to safeguard consumers against Zelle fraud.

☆ To Knock an Elephant Off Balance, Bring Out a Giant Blindfold
▼ + stars: | 2023-09-26 | by ( Emily Anthes | More About Emily Anthes | ) www.nytimes.com time to read: +1 min

“The bigger you are, the harder you fall,” said John Hutchinson, an expert on large animal locomotion at the Royal Veterinary College in Britain. “If an elephant falls, it’s in big trouble.”But scientists knew little about how elephants maintain their stability as they lumber across the landscape. A new study, published in Biology Letters on Wednesday in Britain, suggests that visual feedback helps elephants time their strides. “Our elephants were going slowly, very slowly, a really slow walk,” said Dr. Hutchinson, a co-author of the study. Otherwise, I would never have done the experiment.”Studies have shown that visual feedback helps humans fine-tune their steps.

Persons: ”, John Hutchinson, it’s, Hutchinson Organizations: Royal Veterinary College, Hollywood Locations: Britain

☆ Why we choose to live on a homestead as millennials: We don't get a day off, but we love raising our girls in this environment.
▼ + stars: | 2023-09-23 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +7 min

Homesteading wasn't our original planIt really started with us getting chickens and then I started collecting every animal out there. AdvertisementAdvertisementSo that's when we fenced in the property, and started to get some animals to eat the poison oak. Courtesy of Christina Figone HeinritzThe summer we started framing our first lumber job it was like 113 degrees that day. Courtesy of Christina Figone HeinritzYou can get a pretty good sized garden with not that much land. Christina Figone Heinritz's homestead Christina Figone HeinritzI don't feel that I am missing out on anything by homesteadingI think when you buy into this convenience lifestyle that everyone has, something is gonna suffer.

Persons: Christina Heinritz, Trevor, Heinritz, —, Christina Figone Heinritz, you've, We're, we're, Christina Figone Heinritz's, homesteading Organizations: Service, Chico, —, Craigslist Locations: California, Wall, Silicon, Lincoln , California, Bay, Chico, Lincoln

☆ See inside Starbucks' quest for 'the cup of the future'
▼ + stars: | 2023-09-15 | by ( Peter Prengaman | Associated Press | ) www.businessinsider.com time to read: +14 min

Just as noteworthy as what they're carrying is what they are not: the disposable Starbucks cup, an icon in a world where the word is overused. ASU implemented a "borrow and return" plan that has users dump reusable cups in a bin outside the store. AP Photo/Ross D. FranklinNow, in an era where concern for sustainability can be good business, the Starbucks disposable cup may be on its way to extinction thanks to an unlikely force: Starbucks itself. Currently, ASU students can bring their own reusable cups or are given a reusable cup to wash and return. Since the reintroduction of reusable cups in some stores in July 2021 — reusable cups were not used during much of the COVID-19 pandemic — only 1.2% of worldwide sales in fiscal year 2022 came from reusables.

Persons: — Bethany Patton, Patton, Ross D, Franklin, that's, Michael Kobori, Lindsey Wasson, Erin Simon, Simon, Jon Solorzano, Solorzano, Irene Linayao, Aria, Tyler Eglen, Jane Tsilas, Walker, Kyle Walker, Franklin Valencia Villanueva, it's Organizations: Starbucks, Service, ASU, AP, Arizona State University ., Wildlife Fund, Arizona State, Starbucks —, Franklin Locations: TEMPE, Ariz, United States, Los Angeles, Europe, Germany, San Francisco, San Diego, Seattle, Arizona, reusables, Villanueva

Just as noteworthy as what they're carrying is what they are not: the disposable Starbucks cup, an icon in a world where the word is overused. Political Cartoons View All 1160 ImagesNow, in an era where concern for sustainability can be good business, the Starbucks disposable cup may be on its way to extinction thanks to an unlikely force: Starbucks itself. At the store where Patton gets her coffee, Starbucks already doesn't serve any in disposable paper or plastic cups. That pushes the limits of what can be done with recycled paper material that holds hot liquids. Since the reintroduction of reusable cups in some stores in July 2021 — reusable cups were not used during much of the COVID-19 pandemic — only 1.2% of worldwide sales in fiscal year 2022 came from reusables.

Persons: — Bethany Patton, Patton, ”, that's, Michael Kobori, It’s, Erin Simon, Simon, Jon Solorzano, ” Solorzano, “ I’ll, Irene Linayao, Aria, Tyler Eglen, Jane Tsilas, Kyle Walker, Valencia Villanueva, it's, “, Peter Prengaman, Manuel Valdes Organizations: Arizona State University ., Starbucks, Wildlife Fund, Arizona State, Starbucks —, AS, Valencia, Associated Press, AP Locations: TEMPE, Ariz, United States, Los Angeles, Europe, Germany, San Francisco, San Diego, Seattle, Arizona, reusables

☆ Slowing inflation is dragging on Kroger sales, even as consumers still feel a pinch
▼ + stars: | 2023-09-08 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

But it has created risk that customers could turn to retailers known for lower food prices, such as Walmart, Aldi or Dollar General . Kroger reaffirmed its full-year guidance, saying it expects identical sales excluding fuel to range between 1% and 2%. In an earnings release, he said the grocer expects inflation to "continue to decelerate" and expects a tougher backdrop for consumers in the months ahead. Kroger CEO Rodney McMullen said on an earnings call that slowing inflation could lift sales in another way. He said Kroger has stepped up security and added new tech to try to fight crime, but said Kroger expects the theft trends "will continue to be a challenge for the remainder of the year."

Persons: Kroger, Fred Meyer, Ralphs, King Soopers, Gary Millerchip, Rodney McMullen, McMullen, Millerchip Organizations: Kroger, LSEG, Target, Walmart, Aldi, Express, U.S . Bureau of Labor Statistics, Albertsons, S Wholesale Grocers, Grand Union Locations: U.S, Florida, Washington ,

☆ Wisconsin sawmill has agreed to stop hiring children after a 16-year-old died on the job
▼ + stars: | 2023-09-07 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +5 min

A Wisconsin sawmill operator has agreed to stop hiring children after the death of a teenager. Michael Schuls, 16, died of "traumatic asphyxia" after an accident at Florence Hardwoods. The company also employed nine children, some as young as 14, "to illegally operate machinery," including saws for processing lumber. AdvertisementAdvertisement"While we did not knowingly or intentionally violate labor laws, we accept the findings and associated penalties," Florence Hardwoods said in a statement provided to Insider. In May, a pair of Wisconsin Republicans began circulating a bill that would allow 14-year-olds to serve alcohol; earlier, the state's Republican-led legislature legalized children working as late as 11 p.m.

Persons: Michael Schuls, Labor Julie Su, Schuls, Seema Nanda, —, Kim Reynolds, May, Reynolds, cdavis@insider.com Organizations: Labor, Service, US Department of Labor, Green Bay Press, Gazette, Sheriff's, Press - Gazette, Department of Labor, Wisconsin Republicans, Republican, Des Moines Register Locations: Wisconsin, Florence, Wall, Silicon, Mississippi, Iowa

☆ Lumber prices defy the most recent surge in mortgage rates to extend 3-day rally to 10%
▼ + stars: | 2023-09-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Lumber prices staged a 3-day rally of 10% despite continued headwinds in the housing market. The average 30-year mortgage rate closed in on 6% this week, hitting its highest level since 2008. The gains come despite continued headwinds in the housing market, particularly a surge in mortgage rates. Another builder in Harrisburg said it saw a big uptick in buying activity when mortgage rates briefly dipped in early August to 5%, signaling how strongly correlated mortgage rates are to home sales. There has been little lag between mortgage rates and a hike in the Federal Funds Rate, as has been seen when the Fed first began raising rates in March, precisely when mortgage rates also began to soar.

Persons: Homebuilders, doesn't bode, Freddie Mac, John Burns, Austin Organizations: Service, John Burns Real Estate Consulting, Federal Reserve, Fed Locations: Wall, Silicon, Tampa, Harrisburg, Philadelphia

☆ Canada to challenge extension of US softwood lumber duties
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Finished lumber is seen at West Fraser Pacific Inland Resources sawmill in Smithers, British Columbia, Canada February 4, 2020. REUTERS/Jesse Winter/File Photo Acquire Licensing RightsOTTAWA, Aug 22 (Reuters) - Canada will challenge what Ottawa described as an "unfair, unjust and illegal" extension of U.S. import duties on Canadian softwood lumber products, the trade ministry said on Tuesday. The softwood lumber tariffs are the legacy of a decades-long trade dispute over the structure of Canada's timber sector that could not be resolved when a quota agreement expired in 2015. "For years, the United States has imposed unfair, unjust and illegal duties on Canadian softwood lumber, hurting Canadian industry and increasing housing costs in both countries," Trade Minister Mary Ng said in the statement. "We are prepared to discuss another softwood lumber agreement when Canada is ready to address the underlying issues related to subsidization and fair competition so that Canadian lumber imports do not injure the U.S. industry," a USTR spokesperson said in an emailed statement.

Persons: Jesse Winter, Mary Ng, Ismail Shakil, Susan Heavey, Devika Syamnath, Andy Sullivan Organizations: West Fraser Pacific Inland Resources, REUTERS, Rights OTTAWA, Ottawa, U.S . Commerce Department, Canada, Washington, Trade, United, U.S . Trade, Thomson Locations: West, Smithers , British Columbia, Canada, U.S, Mexico, United States, Ottawa, Bengaluru

☆ Lowe's tops quarterly estimates, CEO says consumer sentiment improving
▼ + stars: | 2023-08-22 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

[1/2] Shoppers load a box of merchandise into a truck after visiting a Lowe's hardware store in Philadelphia, Pennsylvania, U.S. November 4, 2020. REUTERS/Mark Makela/File Photo Acquire Licensing RightsSummaryCompanies Consumer sentiment turning more positive - CEOLowe's to outperform home improvement market in H2 2023Shares up 3.4%Aug 22 (Reuters) - Lowe's (LOW.N) said on Tuesday consumer sentiment was improving after it topped Wall Street estimates for quarterly profit and comparable sales, as sustained spending on smaller projects countered a broader lull in the home-improvement sector. Lowe's said disposable income at U.S. households started to improve over the past quarter, which is boding well for the industry. "We started to see consumer sentiment turn more positive on the Do-It-Yourself customer side... What we're looking for now is just that the (sentiment improvement sustains)," CEO Marvin Ellison said in an interview. Lowe's second-quarter per-share earnings of $4.56 also topped estimates of $4.49, driven by falling lumber prices and tighter cost management.

Persons: Mark Makela, Lowe's, Marvin Ellison, Ellison, Joe Feldman, Deborah Sophia, Shinjini Organizations: REUTERS, Home, Pro, Thomson Locations: Philadelphia , Pennsylvania, U.S, North Carolina, Bengaluru

☆ Lowe's tops quarterly estimates on small home-improvement project boost
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

[1/2] Shoppers load a box of merchandise into a truck after visiting a Lowe's hardware store in Philadelphia, Pennsylvania, U.S. November 4, 2020. REUTERS/Mark Makela/File Photo Acquire Licensing RightsAug 22 (Reuters) - Lowe's (LOW.N) beat Wall Street estimates for quarterly profit and posted a smaller-than-expected drop in comparable sales on Tuesday, as sustained consumer spending on smaller projects countered a broader lull in the home-improvement sector. A delayed spring season also pushed demand for goods such as garden equipment and outdoor supplies into the second quarter from earlier in the year, helping Lowe's and larger rival Home Depot (HD.N) top quarterly results estimates. In contrast, Home Depot said Pro-customer sales performance was slightly negative in the quarter. Same-store sales at Lowe's fell 1.6% in the second quarter ended Aug. 4, less than analysts' estimate of a 2.36% drop, according to Refinitiv data.

Persons: Mark Makela, Marvin Ellison, Lowe's, Joe Feldman, Telsey's Feldman, Deborah Sophia, Shinjini Organizations: REUTERS, Home, Pro, Telsey Advisory, Depot, Thomson Locations: Philadelphia , Pennsylvania, U.S, North Carolina, Lowe's, Bengaluru

☆ Lowe's sticks by full-year earnings forecast despite weakening sales, as spring projects offer a boost
▼ + stars: | 2023-08-22 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Lowe's reported mixed fiscal second-quarter results on Tuesday, as consumers tackled springtime projects and helped offset weakening home improvement demand. It anticipates total sales will range between $87 billion and $89 billion for the period. It projects comparable sales will drop by 2% to 4% this fiscal year. Lowe's is more reliant on do-it-yourself shoppers for its sales than Home Depot is, but has tried to change that. Only about a quarter of Lowe's sales come from home professionals, while Home Depot typically gets about half of its sales from them.

Persons: Lowe's, Richard McPhail Organizations: Lowe's, Home, U.S . Mortgage Locations: Bloomsburg

☆ Macy's, Dick's, and Lowe's are sounding alarms on US shoppers
▼ + stars: | 2023-08-22 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Macy's said US consumers have less cash to spend, and are choosing experiences over products. Dick's meanwhile reported an unexpected uptick in inventory shrink, presumably from theft. Macy's, Dick's Sporting Goods, and Lowe's each sounded alarm bells on Tuesday about the financial state of US shoppers, with each company reporting softening profit margins in key categories. Lowe's — like rival Home Depot last week — is seeing weaker demand from its DIY shoppers after a burst of home spending during the pandemic. In a press release, Dick's CEO Lauren Hobart called shrink "an increasingly serious issue impacting many retailers."

Persons: Macy's, Lowe's, Dick's, they're, Jeff Gennette, Lauren Hobart, Neil Saunders, Brian Cornell, John David Rainey Organizations: Service, Dick's Sporting Goods, CNBC, Total, Depot, Walmart Locations: Wall, Silicon

☆ RBC names the Canadian stocks set to ‘materially outperform’ in the next 12 months — here are 8 on its conviction list
▼ + stars: | 2023-08-22 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Royal Bank of Canada named a raft of stocks it expects to "materially outperform" over the next 12 months. Its picks are in sectors from health to software and are named on the bank's list of small-cap conviction list stocks. 'Compelling' and 'sustainable' Lumber producer Interfor is on RBC's list for its "compelling" valuation. "On just about every key valuation metric, including on Trend EBITDA and a capacity basis, Interfor is trading at very low levels," the analysts wrote. The company's management "anticipates aging housing supply along with work-from-home trends will help to offset the impact of heightened interest rates," RBC's analysts wrote.

Persons: Jamieson, Dentalcorp, Enghouse, Interfor, Cargojet Organizations: Bank of Canada, Toronto Stock Exchange, Jamieson Wellness, RBC, Enghouse Systems, Copperleaf Technologies, SAP Locations: China, SavvyWire, Ontario

New York CNN —Dick’s Sporting Goods warned Tuesday that retail theft is damaging its business and would lead to lower annual profits. Retail “shrink” is a term that refers to merchandise that goes missing due to theft, fraud, damage, accounting errors or other reasons. The retailer reported a large number of incidents of shoplifting and organized retail crime in its stores nationwide. Need and opportunity become forceful catalysts for driving up incidents of retail crime, experts said. According to the National Retail Federation, the industry’s biggest trade group, large-scale store theft is becoming a bigger part of retail shrink.

Persons: Lauren Hobart, can’t, ”, Read Hayes, criminologist, Gucci, – Organizations: New, New York CNN —, Goods, Walgreens, University of Florida, Prevention Research Council, Walmart, Target, National Retail Federation, eBay, Facebook, Westfield, Westfield Topanga Shopping, Nordstrom, FBI, New York Police Department, New York State, Police Locations: New York, Pittsburgh, Los Angeles, Chicago, Westfield Topanga, Burbank , Glendale, Beverly Hills, Santa Monica, New York City

We are buying 100 shares of Stanley Black & Decker (SWK), at roughly $88.90 apiece. Following Tuesday's trade, Jim Cramer's Charitable Trust will own 500 shares of SWK, increasing its weighting to 1.58% from 1.27%. With the market falling Tuesday afternoon — the S & P 500 was down around 0.27% — we are dipping into our large cash position and putting more money to work by buying up shares of Stanley Black & Decker . The purchase comes just a day after adding to our position in this industrial-tools-and-household-hardware manufacturer at a similar price. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Stanley Black, Decker, Jim Cramer's, Lowe, Lowe's, Stanley –, Stanley, Jim Cramer, Jim, David Paul Morris Organizations: Stanley, SWK, CNBC, Bloomberg, Getty Locations: U.S, Pleasanton , California

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