Home Depot

It was another disappointing quarter for Lowe’s Cos., which on Wednesday reported lower-than-expected adjusted earnings and revenue and gave notice of slower growth in profit margin for the second half.    The home improvement company reported that its revenue rose 6.8% to $19.5 billion for the quarter ended Aug. 4, which was short of estimates. Same-store sales rose 4.5%, exceeding Street forecasts.   

In a move that reflects the increased prominence of digital in traditional retail operations, Macy's has hired a senior eBay executive as president of its namesake brand.    Hal Lawton has been named president of Macy’s, effective Sept. 8, 2017. He will be responsible for all aspects of the Macy’s brand, including merchandising, marketing, stores, operations, technology, and consumer insights and analytics. Lawton will report to CEO Jeff Gennette, who previously held the role before becoming chief executive in March. 

The nation's largest home improvement retailer has found a new use for its store roofs.   The Home Depot is partnering with GE's Current unit and Tesla on a rooftop solar project in 50 stores across five states (California, Connecticut, Maryland, New Jersey, New York, and the District of Colombia.) The initiative will reduce electricity grid demand by an estimated 30% to 35% annually at each location. Under a power purchase agreement, Home Depot will lease its roof space and buy the output from the systems.   

After a solid first quarter, Home Depot has posted an even stronger set of second quarter figures. Total sales rose by 6.2% with underlying comparables up by 6.3% overall and by 6.6% in North America. Given the long run of big uplifts in same-store numbers, this is a very impressive performance.  

The spring selling season was a busy one for the nation's largest home improvement retailer as Americans continue to spend money on their homes — both new and existing ones.   A pair of home improvement records were broken in Home Depot's second quarter as the Atlanta-based retail giant reported the highest quarterly revenue in its history. The retailer also set a new high for net earnings.  

Prime Day 2017 was Amazon’s biggest event yet. But the shopping marathon took a significant toll on brick-and-mortar traffic.   

A wholesale club giant beats out specialty retailers to rank as the nation's favorite home furnishings retailer.    Costco Wholesale Corp. is ranks first among consumers when it comes to home furnishings, according to a study by Market Force Information. With a composite loyalty score of 72%, Costco earned the top spot. But Ikea was a close second, with a score of 70%.    

The Marketplace at Potomoc Towne Center in Ranson, West Virginia, has been acquired for $35.9 million by Heidenberg Properties Group and Strategic Real Estate Partners (SERP) in a joint venture deal. The seller was Carl Freeman Companies of Rockville, Maryland.