SOURCE: Rothman Research

Rothman Research

May 03, 2010 09:01 ET

Can Home Improvement Retailers Hope for a Stronger 2010?

JOHANNESBURG, SOUTH AFRICA--(Marketwire - May 3, 2010) - -- Data and earnings for the first quarter of 2010 has been on a good note in the retail sector as consumer confidence and spending have been moving higher. However, consumers are still tip-toeing on their spending as they cautiously monitor the healing progress of the U.S. economy. One of the most encouraging signs of the time is the positive attitude consumers are taking towards home improvement, considering that issues in the housing sector are still pretty much in negative territories even if recent data has been showing improvement in the new home sales and building permits. With consumers embracing home improvement once again, companies like Lowe's Companies Inc. (NYSE: LOW) and The Home Depot Inc. (NYSE: HD) are poised to benefit.

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"The retail sector has shown an interesting turnaround in recent months supported by consumer confidence and consumer spending which, however, remains very unpredictable and feeble. This is for the retail industry as a whole, and now if you consider the home improvement retailers, they have to tackle with a housing industry that is still battling the tides on top of the volatile consumer spending," commented Jack Benassi of "We believe that investors should remain cautious at this point with home improvement until we see stronger data coming from the housing sector."

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Home Depot has already anticipated a 2.5% sales growth, whilst Lowe's Companies is expecting sales growth to expand by 4% to 6% for 2010. Both these companies are scheduled to deliver their earnings reports on May 17th, 2010. 

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