Matt Townsend

Business

Lowe’s Sales Trail Estimates Despite Strong Housing Market

Lowe's store Luke Sharrett/Bloomberg

Lowe’s Cos. reported two key sales measures that missed analysts’ estimates last quarter despite a buoyant U.S. housing market.

Matt Townsend | Bloomberg News
February 26, 2020
Business, Technology

New Walmart Credit Card Looks to Boost E-Commerce

Walmart credit card Patrick T. Fallon/Bloomberg News

In a sign of how much Walmart Inc. is betting on e-commerce, the retailer’s revamped credit-card program with Capital One Financial Corp. offers better rewards for online shopping and checking out with its mobile app.

Matt Townsend | Bloomberg News
September 18, 2019
Business, Logistics

Home Depot Results Mixed as Wet Weather, Calendar Shift Weigh on Shares

Luke Sharrett/Bloomberg News

The Home Depot Inc. failed to fully rebound from a lackluster end to last year, with the company saying a calendar adjustment added to the drag from wet weather. Tariffs also weighed on the stock, with the company saying that a recent increase in duties isn’t included in its guidance.

Matt Townsend | Bloomberg News
May 21, 2019
Business, Logistics

Lowe’s Posts Solid 4Q Results as Rival Home Depot Stumbles

Lowes Scott Eells/Bloomberg News

It was a cold winter for Lowe’s Cos., but sales largely held up. And now, CEO Marvin Ellison said demand for home improvement goods is starting to heat up, one day after rival Home Depot Inc. reported results that fell short.

Matt Townsend | Bloomberg News
February 27, 2019
Business, Logistics

Home Depot Falls as Sales Outlook Slows and Housing Starts Lose Steam

Home Depot John Raoux/Associated Press

Home Depot Inc. shares fell on Feb. 26 after the retailer said sales gains will start to cool off this year — mirroring a trend in the U.S. housing market.

Matt Townsend | Bloomberg News
February 26, 2019
Business

Holiday Online Sales Surge, but Profit Margins Concern Retailers

Package warehouse Daniel Carde/Bloomberg News

The initial Black Friday results have reinforced that this U.S. holiday shopping season will be one of the best in recent memory. But even in good times, there are concerns for retailers.

Matt Townsend | Bloomberg News
November 27, 2018
Business

Lowe’s Closes 51 Stores, Abandoning Smaller-Store Strategy

Lowe's Store Front Steven Senne/Associated Press

Home-improvement retailer Lowe’s announced the closing of 51 underperforming stores Nov. 5, including two New York locations that the company hailed just three years ago as the way to win over city-dwellers.

Matt Townsend | Bloomberg News
November 5, 2018