North American retail giants under pressure as housing recovery, lumber prices muddy outlook
Two of the largest home improvement retailers, Home Depot (HD) and Lowe's (LOW), warned of softness in the market in recent earnings reports, indicating the year ahead is likely to be a difficult one as inflation weighs on consumers. "In 2023, residential investment will be under some pressure, given elevated levels of inflation, higher interest rates and a more cautious consumer," Lowe’s CFO Brandon Sink told analysts on the earnings call on Wednesday. "We are forecasting a slight decline in the home-improvement market." "We do expect moderation in home ...
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