From NAHB’S Nation’s Building News of Feb. 22, “The improving housing market is finally starting to spill over into other sectors of the economy. Home improvement retailers definitely took a beating as people walked away from their homes and stopped purchasing properties all together during the recession. Lowe’s, the second largest U.S. home-improvement retailer, became of a victim of circumstances as the housing market spun out of control…But now the company is starting to see some llight at the end of the tunnel. Its fourth quarter resulted shaped up better than expected, the net income rising 27%…Lowe’s also said sales in stores open at least 13 months may advanced as much as 3% this year thanks to a 2.8% January increase in U.S. housing starts. Chief Executive Robert Niblock thinks the worst of the economic cycle is behind the company.” (From InvestorGuide.com on Feb. 22)
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