During the unofficial earnings season for home improvement on Wall Street — companies tracked by HCN produced a decidedly positive stream of earnings reports.
Of 30 companies tracked from July 9 (WD-40) to Aug. 22 (Sears), five companies showed losses, six were in the black but also showed a decline, and a full 16 showed year-over-year growth in the double-digit percentages, including a gaudy 182% increase at LED lighting manufacturer CREE.
Among the double-digit gainers were the world’s largest and second largest home improvement retailers. The Atlanta-based Home Depot’s company’s earnings call produced an exchange that might rank as one of the most obvious A’s in a financial Q&A in a long time.
Analyst: “Can you handle a 20% increase in comps?”
Home Depot executive VP merchandising Craig Menear: “We certainly would like to give it