We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Home Depot to Reset Product Category for Enhanced Portfolio
Read MoreHide Full Article
The Home Depot Inc. (HD - Free Report) has been proactive with merchandising organization through investments in product categories. In one such move, the company announced its intention to accelerate investments in the reset of outdoor power categories. This will also simplify the primary brands in the category. Earlier, the company completed product reset for its power tools category.
This time it is focused on outdoor power equipment to redefine the brands in this category. The reset initiative is based on its refreshed presentation of the outdoor power category made earlier this year. This focuses on helping customers decide the best-suited equipment for their use. The company’s battery-powered technologies, which have gained popularity with DIY consumers and professional landscapers, are key highlights of the presentation.
Notably, Ryobi, DeWalt, Milwaukee, and Makita are the common battery platforms in its power tool and outdoor power equipment products. This collectively contributes a large share of batteries owned by consumers.
After the completion of the reset, the enhanced portfolio will include the company’s top brands in the category like Ryobi, Makita, DeWalt and Milwaukee. Also, its most trusted brands of gas-powered products such as Toro, Echo, John Deere, Cub Cadet, Honda and Troy-Bilt will be part of the reset. Moreover, the review of products will include the discontinuation of the Ego line of outdoor power equipment.
The company expects the reset initiative to be completed in nearly 1,300 stores across the United States by the end of this year. Further, the product reset in remaining stores is likely to be completed by the spring of 2021.
The company’s stock did not react much after the news. However, the Zacks Rank #2 (Buy) stock has been resilient amid the coronavirus pandemic, driven by its strong fundamentals and actions. Notably, shares of Home Depot gained 20.1% year to date, outpacing the industry’s growth of 18.3%.
Amid the coronavirus pandemic, the company has been gaining from continued store operations as well as its ability to deliver interconnected shopping experience by blending its physical and digital platforms. The company’s flexible interconnected infrastructure helped it quickly adapt to the changing customer preferences amid the coronavirus pandemic in late March. Consequently, it delivered top-line growth of 7.1% in first-quarter fiscal 2020, with overall comps increasing 6.4% and comps in the United States up 7.5%.
Big Lots, Inc. (BIG - Free Report) has a long-term earnings growth rate of 7.1% and a Zacks Rank #1 at present.
Dollar General Corporation (DG - Free Report) currently has a long-term earnings growth rate of 12.3% and a Zacks Rank #1.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
Image: Bigstock
Home Depot to Reset Product Category for Enhanced Portfolio
The Home Depot Inc. (HD - Free Report) has been proactive with merchandising organization through investments in product categories. In one such move, the company announced its intention to accelerate investments in the reset of outdoor power categories. This will also simplify the primary brands in the category. Earlier, the company completed product reset for its power tools category.
This time it is focused on outdoor power equipment to redefine the brands in this category. The reset initiative is based on its refreshed presentation of the outdoor power category made earlier this year. This focuses on helping customers decide the best-suited equipment for their use. The company’s battery-powered technologies, which have gained popularity with DIY consumers and professional landscapers, are key highlights of the presentation.
Notably, Ryobi, DeWalt, Milwaukee, and Makita are the common battery platforms in its power tool and outdoor power equipment products. This collectively contributes a large share of batteries owned by consumers.
After the completion of the reset, the enhanced portfolio will include the company’s top brands in the category like Ryobi, Makita, DeWalt and Milwaukee. Also, its most trusted brands of gas-powered products such as Toro, Echo, John Deere, Cub Cadet, Honda and Troy-Bilt will be part of the reset. Moreover, the review of products will include the discontinuation of the Ego line of outdoor power equipment.
The company expects the reset initiative to be completed in nearly 1,300 stores across the United States by the end of this year. Further, the product reset in remaining stores is likely to be completed by the spring of 2021.
The company’s stock did not react much after the news. However, the Zacks Rank #2 (Buy) stock has been resilient amid the coronavirus pandemic, driven by its strong fundamentals and actions. Notably, shares of Home Depot gained 20.1% year to date, outpacing the industry’s growth of 18.3%.
Amid the coronavirus pandemic, the company has been gaining from continued store operations as well as its ability to deliver interconnected shopping experience by blending its physical and digital platforms. The company’s flexible interconnected infrastructure helped it quickly adapt to the changing customer preferences amid the coronavirus pandemic in late March. Consequently, it delivered top-line growth of 7.1% in first-quarter fiscal 2020, with overall comps increasing 6.4% and comps in the United States up 7.5%.
Other top-Ranked Retail Stocks to Watch
Fastenal Company (FAST - Free Report) currently has a long-term earnings growth rate of 9% and a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Big Lots, Inc. (BIG - Free Report) has a long-term earnings growth rate of 7.1% and a Zacks Rank #1 at present.
Dollar General Corporation (DG - Free Report) currently has a long-term earnings growth rate of 12.3% and a Zacks Rank #1.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>