No Home Improvement Yet
The twin reports from retailers for the home improvement market, the main stores for do-it-yourselfers, Home Depot (NYSE: HD) on Tuesday and Lowe’s (NYSE: LOW) on Monday, showed essentially the same thing, that the housing sector woes have thoroughly worked their way into this specialized sector of retailing and is expected to continue affecting it for the near term. Home Depot experienced not only a 27% drop in its fourth quarter profit, but also showed a decline in annual sales for the first time in its history. For the recent quarter, the company earned 40 cents per share vs. 46…