Retailers, consumers and prices
For Home Depot, Black Friday comes in spring.
As many Americans prepare to spruce up their gardens, the world’s largest home improvement retailer will host “Spring Black Friday” — a weekend of regional door buster deals in March and April.
Like the traditional Black Friday that occurs the day after Thanksgiving to unofficially start the holiday shopping season, the home goods retailer hopes its spring event will jumpstart its busiest selling season.
Last month, Home Depot reported its first quarterly same-store rise in nearly four years and gave an upbeat full-year forecast as customers begin making bigger renovation projects.
From lawn products to patio and grills, the retailer will slash prices on several spring products in March and April.
The home improvement retailer reported a higher-than-expected quarterly profit, raised its forecast for the year and provided this commentary: “In recent weeks, we have seen consumer confidence improve, housing turnover show signs of a bottom in certain markets and home prices slow their decline,” Chief Executive Robert Niblock said in a statement.
He added that though these are positive signs, many economic indicators remain near “historic lows,” and Lowe’s will continue to be conservative with its plans.