Home Depot and Lowes reported their Q2 results. They were not good. Both seem to be struggling with the huge pull-back in large ticket homeowner renovations. I read one press release (I believe from HD) that they do not expect this business to come back until mid 2010.
I have also heard from tool buyers at other retailers that power tool sales are off. This is from buyers all over North America.
I wonder how the Christmas season will be? It certainly is not promising.
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