Robert Niblock News
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Housing starts probably rose in May, extending a rebound that is helping shore up the U.S. expansion, economists said before a report today.
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Lowe’s Cos., the second-largest U.S. home-improvement retailer, agreed to pay $205 million to add at least 60 Orchard Supply Hardware stores in California after Orchard filed for bankruptcy relief.
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Lowe’s Cos. climbed to an intraday record yesterday after Chief Executive Officer Robert Niblock said the strengthening housing market is helping sales recover from a cold spring that sapped demand for outdoor merchandise.
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Lowe’s Cos. climbed to an intraday record yesterday after Chief Executive Officer Robert Niblock said the strengthening housing market is helping sales recover from a cold spring that sapped demand for outdoor merchandise.
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Consumer spending was probably little changed in April as smaller fuel and utility bills helped Americans shore up savings, economists said before a report today.
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Sales of new U.S. homes climbed in April to the second-highest level in almost five years as lower borrowing costs and job gains drew more buyers into the market.
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Consumer sentiment advanced last week, an indication that gains in housing and stock markets are bolstering Americans’ outlooks on the economy.
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U.S. stocks fell, with benchmark indexes retreating from record highs, as concern grew that the Federal Reserve will scale back its stimulus efforts if the labor market continues to improve.
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Lowe’s Cos., the second-largest U.S. home-improvement retailer, fell the most in almost three months after reporting second-quarter profit that trailed analysts’ estimates as comparable-store sales fell.
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Lowe’s Cos. is seeking an eventual successor to Chief Executive Officer Robert Niblock as it hires chiefs for merchandising and supply-chain operations.
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