Posted in home repair

Lowe’s Stock Can Keep Rallying Because People Will Be Spending More Time at Home for Longer

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Lowe’s shares have rallied as the pandemic has spurred people to spend more money fixing up their homes.


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Lowe’s

stock has jumped some 35% in 2020, as demand booms amid the Covid-19 pandemic. Loop Capital argues the shares could see another 20% gain, as consumers continue to pour money into their homes.

Analyst Laura Champine reiterated a Buy rating on Lowe’s (ticker: LOW) shares Wednesday, while raising her price target to $195 from $180.

She is increasingly confident that the company will continue to see sales boosted by the crisis, as people realize that they’ll likely be spending more time at home for longer, and need that space to serve more needs than it used to.

Indeed, as Barron’s has reported, the majority of the nation’s public school students were set to start the academic year remotely, while employers warm up to the idea of

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Posted in home repair

Fewer paychecks, less spending, threat to Social Security

Paul Brandus, Opinion columnist
Published 5:00 a.m. ET Sept. 22, 2020

Millions must choose between working at home while watching the kids and helping them with school, or giving up the job, the paycheck and the career.

We’ve reached 200,000 Americans dead of COVID-19 in eight months — nearly half the U.S. death toll in World War II, which lasted over 45 months for America. As if that isn’t awful enough, damage from the pandemic keeps piling up in other ruinous ways. It’s all connected, meaning that one bad thing can make something else worse.  

Case in point: With schools now underway, 4.3 million workers might have to quit their jobs to take care of children learning from home. That’s according to research by Brevan Howard, an asset management firm, which says if these workers were counted as unemployed, they’d add 2.6 percentage points to the unemployment rate, standing at

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Posted in home improvement storest

Lowe’s underwent an online makeover just in time for the surge in home improvement spending by customers, CEO says



a car parked in front of a building: Lowe's CEO Marvin Ellison has long championed revamping the company's e-commerce capabilities. Bruce Bennett/Getty Images


© Bruce Bennett/Getty Images
Lowe’s CEO Marvin Ellison has long championed revamping the company’s e-commerce capabilities. Bruce Bennett/Getty Images

  • According to Lowe’s CEO Marvin Ellison, the company has invested extensively in e-commerce since he took the helm in 2018.
  • That e-commerce overhaul — which saw the company prioritize its new store app and a shift to the cloud — couldn’t have happened at a better time.
  • The coronavirus pandemic has seen consumers rely heavily on online shopping, as many look to complete projects around their homes.
  • Ellison and Lowe’s CFO David Denton spoke Wednesday at the annual Goldman Sachs Global Retailing Virtual Conference.
  • Visit Business Insider’s homepage for more stories.

Lowe’s’ long-awaited e-commerce revamp came at just the right time for the company to reap the rewards of the surge in home improvement spending during the coronavirus pandemic, according to CEO Marvin Ellison.

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Posted in home

Out-of-home ad spending is going digital – Insider Intelligence

  • Insider Intelligence publishes thousands of research reports, charts, and forecasts on the Media, Advertising, and Marketing industry. You can learn more about becoming a client here.
  • The following is a preview of the US Digital Out-of-Home Ad Spending 2020 report.

This year, digital out-of-home (DOOH) ad spending will increase by 1.6%, and in 2021 it will rise by 19.2%. We expect DOOH ad spending to increase from $2.72 billion in 2020 to $3.84 billion in 2023.

We define DOOH as any out-of-home (OOH) advertising that is dynamically and digitally displayed. It includes digital billboards, digital street furniture, digital transit and digital place-based display. We categorize DOOH as a subset of OOH, not as a subset of digital advertising, which means that our DOOH estimates are excluded from our digital advertising forecast.

In 2020, DOOH will account for one-third of total US OOH ad spending. While that share might not seem

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Posted in home

Staycations and home office equipment boost UK spending in August

LONDON (Reuters) – British consumers increased their spending again in August as they went on “staycation” holidays, bought equipment for working from home and went back to shops to buy clothes, surveys showed on Tuesday.

FILE PHOTO: Shoppers walk past social distancing signs at the Covent Garden shopping and dining district, amid the spread of the coronavirus disease (COVID-19), in London, Britain, August 2, 2020. REUTERS/Toby Melville/File Photo

Barclaycard said its measure of spending rose in annual terms for the first time since before the lockdown, up 0.2% year-on-year as people bought more fuel to go on holiday in Britain and to begin returning to their workplaces.

There was also an increase in spending in restaurants, pubs and bars as diners took advantage of the government’s Eat Out to Help Out” discount scheme that run during August.

The overall increase was the first since February. Spending on clothing rose for

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Posted in home improvement storest

Lowe’s beats sales expectations as home improvement spending surges

(Reuters) – Lowe’s Cos Inc (LOW.N) blew past analysts’ estimates for quarterly sales and profit on Wednesday as it benefited from a surge in demand for paint, tools and barbecue grills from consumers stuck at home due to the COVID-19 pandemic.

The company also posted a 34.2% rise in quarterly same-store sales, beating analysts’ estimates for a 13.2% increase, and said the sales momentum was carrying into August, although it would likely taper off in later months.

With a large base of do-it-yourself customers, Lowe’s has been among the chief beneficiaries of people undertaking minor home repair, painting or gardening work during the crisis.

That helped the company’s same-store sales far outpace those of larger rival Home Depot Inc (HD.N), which relies more on demand from handymen and professional contractors, whose businesses have only recently started to pick up.

Wedbush Securities analysts estimate that nearly 75%

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Posted in home repair

Americans stuck in lockdown are spending on home improvement

Lawnmowers priced at $3,000 are atypical bestsellers in recessions. But sales of the Ariens Ikon XD, featuring 20-inch tires, a V-twin Kawasaki engine and ergonomic plush seat, have surged in the U.S. during the pandemic.

While other industries grapple with a shaky economy, the home improvement business is booming. Home Depot and Lowe’s last week reported historically large rises in quarterly revenues as housebound Americans spend billions of dollars more than usual at the two go-to chains for DIY.

“Most of us are forced to spend more time at home than we ever have in our lifetimes,” said Marvin Ellison, Lowe’s chief executive, presenting a 34% jump in like-for-like sales. Customers had been “finding projects around the house” that they either “hadn’t had a chance to get to” or “just didn’t notice” before the lockdown.

Craig Menear, chairman and chief executive of Home Depot, said the pandemic had meant “the

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