It was predicted that Home Depot (HD) and Lowe´s (LOW) would get hammered by the housing crisis. But not as hard as they thought. With the rising oil, rising food prices and the real estate foreclosure crisis, customers are not buying at all.
The recent sagging earning report suggests that will take a lot to revive the home improvement giants and its stock price. Home Depot´s for example had a stock price fell of 6% in only two days, and Lowe´s stock prices fell more than 4%.
Of course Home Depot and Lowe´s are proving to be tough, by staying alive in the crisis, but their earnings reports met low expectations and investors are pulling their money out. The predictions are that the shares will fall even more this quarter, and the question that remains is if they will remain opened until the real estate crisis is solved.
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