We'll get earnings from retailers Home Depot and Kohl's and housing starts data on Tuesday.
Veteran Donald Sullivan helps customer David Scannell at the Home Depot in Hyattsville, MD on October 31, 2013. Sullivan served 27 years in the Army and recently retired as a Lt. Colonel. Home Depot is known for hiring veterans and has been a good fit for Sullivan who is helps manage the Hyattsville store which is one of the top volume stores in the area.Here are the most important things to know about Tuesday before you hit the door.
Jefferies said its data shows foot traffic in stores and e-commerce website visitations favors Home Depot over rival Lowe's. Lowe's is set to report earnings on Wednesday. , Home Depot lowered its sales outlook for the year amid fears that the trade war will slow consumer spending.Continuing the big week of retail earnings, Kohl's reports third quarter earnings before the bell on Tuesday. Wedbush is expecting Kohl's to report earnings of 86 cents per share on revenue of $4.412 billion. Kohl's earned 98 cents per share on revenue of $4.369 billion in the third quarter of 2018. The firm is expecting 1% same-store sales growth in the third quarter.
Wedbush said it is cautious on Kohl's heading into earnings as the firm has less visibility into fourth quarter guidance and promotional trends. Shares of Kohl's are up nearly 30% in the past three months, higher than the S&P 500 retail ETF the XRT, which is up about 14%. The outperformance leaves"little room for anything but glowing commentary as to the start of Holiday," said Wedbush analyst Jen Redding in a note to clients.We'll get a read on homebuilding in the U.S.
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