Whirlpool will need some help from the housing market to put better numbers on the board.
Shares of Lowe's (LOW) are trading higher after the company posted its fourth-quarter report, beating revenue expectations, reporting $18.60 billion versus an expected $18.45 billion. However, the company saw its comparable sales decline 6.2% year-over-year in the quarter, with the company citing a decline in consumer home renovation projects. D.A. Davidson Managing Director and Senior Research Analyst Michael Baker joins Yahoo Finance to discuss the company's earnings as well as the decline in interest in home renovation projects. Baker elaborates on what Lowe's is doing well, despite headwinds: "It wasn't a bad quarter at all. As it relates to the outlook next year, we knew they'd guide to a lower number in 2024 than in 2023. It was a little bit softer than expected, but not too bad at all. We think they're doing well internally against a tough macro backdrop. For instance, their expenses were flat on a year-over-year basis relative to sales despite a really big decline in sales. So, they're controlling what they can well, gross margins up slightly. That's all good against a tough environment. I think that's why the stock, it did open down a little bit, but now it's back up. We're seeing the company control what they can pretty well." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
Macy's (M) sales declined 1.7% year-over-year in the fourth quarter of 2023 as the retailer plans to close 150 of its stores over the next several years. Lowe's (LOW) sales fall year-over-year, warning of further slowdowns as inflation continues to batter the housing and home-improvement sectors. While stock futures search for direction ahead of Tuesday's opening bell, bitcoin (BTC-USD) prices soar higher above $57,000. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.