|This is what I've been saying all along, I much prefer Lowes to HD, even though HD is closer.|
Home Depot Slows; Lowe's Grows
Forbes.com staff, 01.03.03, 7:32 AM ET
NEW YORK - America's home improvement sector is doing its own version of paint by numbers.
After the closing bell in the U.S. last night, giant retailer Home Depot (nyse: HD - news - people ) cut its earnings outlook for fiscal 2002. Its shares fell almost 8% in after-hours trade and are poised to head lower today.
Lowe's (nyse: LOW - news - people ) took advantage of its competitor's disclosure to hammer home a point about its own future, saying it expects earnings and sales for both the fourth quarter and full year to meet previous forecasts.
What gives? Home Depot, which had been pushing hardware as the perfect stocking stuffer, seems to have been nailed by the very weak holiday shopping season. Lowe's, meanwhile, is tinkering with its stores to make them appeal to women year-round. As we note in the cover story of our Jan. 20 issue, Lowe's has decided that, while men wear the tool belt, women are the real power behind the home improvement throne.