It has been professed by retail experts that both HD and LOW were impervious to the scourge of Amazon, since MUH constructionfags like to buy their sheetrock on location, instead of tinkering with websites. That thesis might hold true for retards, but everyone else knows that Amazon doesn’t destroy companies overnight. They slowly nibble away at the margins until nothing is left of the host, but a faded memory and largess capital losses.
The company missed on earnings, guided lower for both earnings and revenues — but insists everything is just fine.
Reports Q2 (Jul) earnings of $1.57 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus of $1.63; revenues rose 6.8% year/year to $19.5 bln vs the $19.58 bln Capital IQ Consensus. Q2 Comparable sales increased 4.5 percent
Co issues guidance for FY18, sees EPS of $4.20-4.30, excluding non-recurring items, vs. $4.64 Capital IQ Consensus Estimate; sees FY18 revs of +5% to $68.27 bln vs. $68.4 bln Capital IQ Consensus Estimate. EPS guidance is reflective of the loss on extinguishment of debt and the gain from the sale of the company’s interest in its Australian joint venture (prior guidance $4.20-4.30). Comparable sales are expected to increase approximately 3.5 percent The company expects to add approximately 25 home improvement and hardware stores. Operating income as a percentage of sales (operating margin) is expected to increase 80 to 100 basis points.2 The effective income tax rate is expected to be 36.9%.
The miss has cast an ominous shadow across the home improvement space, with losses abundant in GNRC, HOFT, AYI, ETH BLDR, AWI, USG and RH. Homebuilders are getting hit too, with outsized declines in HOV, BZH and MTH.
In summary, we now have the entire retail segment of the economy in disarray. The last two bastions of strength, footwear and home improvement, have now joined the cadre of companies affected by the rarely talked about demographic shifts in the economy that are accelerating to the downside.
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“We’ve ended the war on beautiful, clean coal, and it’s just been announced that a second, brand-new coal mine, where they’re going to take out clean coal — meaning, they’re taking out coal. They’re going to clean it — is opening in the state of Pennsylvania, the second one (ph).”
Is that gibberish making any sense?
The Orange Gorilla is a god damned idiot.
That is exactly what DNI Clapper said. Idiots are “unfit for command”.
Idiots are not unfit for command. Mentally ill people are. Big difference. There was no bigger idiot than Bush, and he lasted 8 years.
Makes sense to me.
Whether or not coal is clean, it was the dirty oil industry that tried to shut it down.
last time I saw a scattered casual small cap rally like todya was before the market shit the fan
Retail is dying because people already accumulated too much garbage and dont have much money for more useless stuff.
That reminds me of George Carlin’s routine about “Stuff”. LOL