- Higher than expected profit (up 11%)
- Gives a bright full year earnings outlook and is optimistic about Holidays
Home Depot (HD)
- 27% drop in quarterly profit
- Forecasts a steeper fall in full year earnings
- May scale back share buyback plans
"I think Home Depot has learned from Lowe's that they need to focus on their stores," Cherukuri said. "That's what's going to get the stock up."
The average purchase fell 1.5 percent to $57.48 in the third quarter as the number of customer transactions eased 1.8 percent. Home Depot said it gained market share in paint, power tools and appliances but lost it in lighting.
- 42% drop in quarterly net earnings
- Revenue up 1.4%
- Cites 3-5 year turn around period to 'return to solid ground'
- Operating margins dropped to 2.7% from 4.4%
"Loblaw's disappointing outlook and third-quarter results underline the dwindling value of the retailer's core retailing operations, which are worth less than one-third of its real estate holdings, Brian Yarbrough, an analyst at Edward Jones & Co., estimated. "
- Quarterly earnings up 40%, met expectations
- Reduced outlook going forward
- Strong international sales offset weak U.S. sales
- To start running TV ads
Leon's Furniture (LNF)
- Net income up 9.5%
- Sales up 6%