Although European capitals are loath to reintroduce the national lockdowns imposed in March, they are targeting restrictions on hospitality, entertainment and travel.
“No government wants to go back to where they were in March given the impact on the economy,” said Melanie Debono, European economist at Capital Economics. “But any restrictions may take longer to unwind so the virus doesn’t uptick again.”
Where we have seen policies to contain the virus, people have quickly returned to normal.
— Frederic Neumann, HSBC
By contrast, countries in the Asia-Pacific region – including New Zealand and Vietnam as well as Taiwan, South Korea and China – suppressed COVID-19 to lower levels and then maintained tighter controls against a resurgence. While Europe enjoyed its summer holidays, Asia kept international travel on hold.
Taiwan closed its borders early and followed that up with well-organised contact tracing, quarantine and social distancing to eliminate a few initial
Breakthroughs in cooking take top two spots
ATLANTA, Oct. 7, 2020 /PRNewswire/ — The Home Depot® today recognized the latest product innovations to hit shelves, in store and online, with the announcement of its 2020 Innovation Award winners. Supporting its DIY and Pro customers, the retailer, its merchants, and suppliers have continued to bring state-of-the-art products to the market throughout 2020.
This year, The Home Depot’s overall Innovation Award winner and first runner up define innovation in cooking platforms. From frying to grilling and smoking, the top two products elevate the at-home cooking experience. In addition to appliances and grills, finalists cover categories from across the home including lighting, home security, flooring and more.
Top winners include:
Overall Winner: The Frigidaire Air Fry Range by Electrolux saves time and space with its all-in-one stove, oven and new Air Fry Range cooking capabilities. The large-scale cooking capacity features no-flip
Wolfe Research launches coverage on Five Below (FIVE +2.9%), Floor & Decor Holdings (FND +2.5%) and At Home Group (HOME +3.2%) with Outperform ratings.
The firms assigns a price target of $150 on FIVE vs. the average Wall Street PT of $136.50. “In our view, FIVE operates one of the most unique traffic-driven models across all of retail with industry leading new unit economics and an agile merchant team helping to deliver consistent positive comp sales growth through an “on trend” product assortment. We see a clear path towards sustained double-digit new store expansion over the next several years.”
The firms assigns a price target of $84 on FND vs. the average Wall Street PT of $76.16. ” FND continues to benefit from a solid housing backdrop and the potential for sustained momentum in the home improvement sector, specifically a structural shift towards hard surface flooring.
Home improvement was one of the few categories that boomed during the coronavirus pandemic as consumers spent more time at home. Lowe’s (NYSE:LOW) was one of the big winners in the segment, outdoing rival Home Depot (NYSE:HD) with a 30% sales increase and a 35% rise in U.S. comps in the second quarter ended July 31.
Digital played an important role in bolstering the company’s revenue, growing 135% in the second quarter and rounding out a strong omnichannel program. Adjusted earnings per share increased to $3.75, which includes $460 million the company paid out to employees due to the pandemic. Lowe’s stock has moved accordingly, gaining 37% year to date as of Tuesday morning.
CEO Marvin Ellison said in a conference call that over the past 18 months, the company has been highly focused on executing its “retail fundamental” strategy, which improved the business infrastructure and positioned