finance
Four Major Retailers to Report Quarterly Earnings This Week
Home Depot, Lowe’s, Walmart and Target will release first-quarter results this week. The reports are expected to show how U.S. households are responding to higher gas prices, inflation and borrowing costs.
May 19, 7:40 AM·1m read1 source
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Four of America’s largest retailers will report quarterly earnings this week. U.S. households are responding to higher gas prices, inflation and borrowing costs. Home Depot reported a 5% increase in sales from a year earlier. The company’s chief financial officer told CNBC that homeowners are “more protected financially” than other customers, but noted that they’re still holding off on more expensive projects.
8% in April from a year ago, according to a Bank of America Institute report. The report found lower- and middle-income consumers were increasingly pulling back on discretionary spending categories like dining and entertainment. Wealthier households continued to spend at a healthy pace, supported by stock market gains and rising home equity values. 6% wage growth rate that month.
68% for a 30-year fixed loan, according to Mortgage News Daily. Higher benchmark interest rates from the Federal Reserve have a direct impact on consumer lending costs. “While households still have some near-term buffers — including tax refunds and savings — these too are unevenly distributed,” Bank of America economists said.
