The housing crisis drags on with no end in sight, and unemployment remains high. So you'll forgive me if I find the notion of better times ahead for Home Depot
Home Depot was supposedly one of the bright spots in today's down market. Its third-quarter net income increased 21%, to $834 million, or $0.51 per share. Its profit bested analysts' expectations for $0.48 per share.
Home Depot's sales weren't mind-blowing by any stretch, although they did reach positive territory. Net sales increased 1.4%, to $16.6 billion, and same-store sales jumped 1.4%, with a 1.5% increase in the U.S.
Rival Lowe's saw net income surge 17.4%, to $404 million, or $0.29 per share. Net sales increased 1.9% to $11.6 billion, with comps increasing an anemic 0.2%. Lowe's missed analysts' expectations for $11.75 billion in revenue.
The home-improvement retailers are safer stocks than homebuilders like DR Horton
General-interest retailers like Wal-Mart, Target