Diamonds and Dogs
Target (TGT) trading at all-time highs. The big box retailer is up 5% to new all-time highs following blow out earnings and sales up 23.3% to $22.34 billion. The size and layout of Target stores has made it easier for skittish consumers to shop with ease amidst virus-related concerns. Target also adapted quickly to the pandemic offering curbside pickup and home delivery for some. Target's curbside service grew more than 500% in the third quarter. Meanwhile, home delivery through its Shipt service was up nearly 280%.
Lowes (LOW) lower following earnings. The home retailer is down 5% at a three-month low following disappointing guidance. Lowes beat by 2 cents as sales soared 28.3% to $22.31 billion, but guidance was lackluster due to costs. Lowes is spending a lot for COVID-related safety features, plus the company will spend $150 million to reset the layout of their U.S. stores, and investments in expanding the supply chain network to compete with Home Depot.
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