We remain very positive on the home improvement sector and Home Depot's prospects, particularly given current valuation levels. Home Depot shares are currently trading in line with the five-year historic low forward price-to-earnings ratio, based on consensus estimates.
More Quotes from Alan Rifkin:
While we were impressed with the long-term initiatives to drive top-line sales and control costs, we sensed a more conservative outlook from management. As such, we take a more cautious view to reflect the broad-based consumer slowdown that has impacted retailers as a whole,Alan Rifkin
People are increasingly concerned, given what Wal-Mart said, that higher gas prices are going to hurt the spending power of the consumer.
Alan Rifkin
This change basically affects the timing of when the rebates are accounted for, ... The way Best Buy will do it now is typically a more conservative approach.
Alan Rifkin
Lowe's remains one of our favorite names. Despite concern of a softening housing market in 2006, we believe Lowe's solid results are indicative of trends in the broader home improvement industry.
Alan Rifkin
If you look at the four hurricanes last year, which had combined insured losses of 23 billion, both Home Depot and Lowe's benefited by about 100 basis points on their same-store sales,
Alan Rifkin
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