- The coronavirus pandemic has battered much of the retail industry, but home improvement stores are a major exception to the rule.
- Home Depot and Lowe’s — the two biggest players in the home improvement retail sector — both reported strong sales in their earnings calls this past week.
- Seth Basham, the managing director of equity research at Wedbush Securities, credited pandemic stay-at-home orders and beautiful spring weather with this “surge” of spending.
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Millions of consumers across the United States have spent the spring of 2020 largely stuck at home as a result of the coronavirus pandemic. All those hours spent indoors — acutely aware of each rickety shelf, leaky faucet, or dingy tiled floor — have proven to be a boon for home improvement retailers.
Home Depot and Lowe’s just posted earnings this week. Home Depot’s report proved to be a mixed bag,