Lowe's and Home Depot Crushed Earnings: Can They Keep It Up Long-Term?
The home improvement industry benefited over the past few months while people stayed home and spent their stimulus checks on home improvement projects. According to the U.S. Department of Labor, categories like home furnishings and gardening saw gains starting in May. Two of the winners here were Lowe's (NYSE: LOW) and Home Depot (NYSE: HD), rival home improvement chains that dot the American landscape.
Both of these companies have put tremendous amounts of resources into restructuring and becoming agile businesses that are in line with current digital trends. Both companies saw surging demand in the first half of 2020, and they delivered (physically and figuratively). But will these trends remain long term? And how will they affect the companies' stocks?
As difficult as the pandemic has been for so many businesses and individuals, technology has eased the pain. Customers don't have to leave their homes when Amazon's Prime packages arrive at their doorsteps, and most large U.S. businesses were prepared for the switch to online retail with a full digital smorgasbord.
Source Fool.com
