-
The Do-It-Yourself Home-Improvement Boom Is Over
Comment on this story Comment The pandemic boom in do-it-yourself home improvement projects is officially over. Stanley Black & Decker Inc. on Thursday chopped its 2022 earnings guidance nearly in half, citing a significant slowdown in consumer demand for power tools beginning in late May and accelerating through June. Volumes in the tool business collapsed 16% in the second quarter, and Stanley now expects retail purchases to ease back toward 2019 levels, before pandemic lockdowns inspired homeowners to tackle fix-it projects and renovations. Stanley has aggressively raised prices on its tools in recent months to offset the impact of inflation and supply chain disruptions, but as recently as April, the…
-
Storm Watch 2022: Time to Stock Up on Home-Improvement Shares?
Accuweather delivered its forecast for the 2022 storm season in April, and the season looks to be a whopper. At least 20 major storms are predicted, marking the seventh year in a row of above-average Atlantic hurricane activity. Home-improvement giants Home Depot ( HD -3.30% ) and Lowe’s ( LOW -3.89% ) are on track for another banner season following gains over the last five years. Home-improvement retailers continue to see brisk business from homeowners and professional builders alike. These stocks seem poised for a repeat performance of recent gains – which could be bigger than ever this year – and position investors for long-term success in this and storm…