Diamonds and Dogs
Home Depot (HD) surviving in the Amazon world. The No. 1 U.S. home improvement chain is up a percent reported higher-than-expected quarterly profit and same-store sales, driven by increased customer traffic and more average spending at its stores amid a strong housing market. Online sales rose 23% while big ticket sales rose 15.8%. Home Depot repurchased $1.25 billion during quarter and intends to repurchase ~$3.75 billion for the remainder of the year.
Dicks (DKS) down again. The sporting goods retailer is down 13% not far from a 52 week low even though earnings and sales were in line with expectations. The company actually issued upside guidance for the second quarter, but weak same-store sales that were below consensus putting shareholders in the selling mood. Today's 13% decline follows last Friday's 4% decline. Not a good couple days for Dicks. Another retailer, TJX is down 4% following earnings.
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