HD vs. LOW, a tale of the Q4 tape
For the 19th straight quarter Home Depot’s total company comparable-store sales beat those of Lowe’s. But the contest is getting closer.
The No. 1 and No. 2 home improvement retail companies posted quarterly financial reports one day apart from each other. Home Depot’s fourth quarter comp-store sales of 4.4% was a mere half a percentage point ahead of its rival in the category considered to be the best gauge of the health of a retailer. As the chart below shows, the gap is narrowing.
In other fourth-quarter metrics, Home Depot — operating with one less week in its 2013 fourth quarter calendar than it had in the previous year — posted bigger numbers than Lowe’s but smaller percentage increases. Depot’s sales slipped 3.0% to $17.7 billion, while Lowe’s gained 5.6% to $11.7 billion.
In the net income category, Depot cleared more than a billion dollars in quarterly net income ($1.01 billion) for the fifth straight quarter. Earnings were down slightly from $1.02 billion in the 13-week quarter a year ago.
Lowe’s increased to $306 million in quarterly net income, up 6.3% from the year-ago period.
At the end of the year, the score count scoreboard showed Home Depot 2263, Lowe’s 1,832.
George Ball joins NCI Building System board
NCI Building Systems has announced today the appointment of George Ball as a director to fill avacancy on the board. He will serve on NCI’s Audit Committee and Compensation Committee.
"I am very pleased George has joined the NCI board," said Norman C. Chambers, NCI’s chairman, president and CEO. "His background in engineering and construction combined with expert knowledge in accounting, controls and compliance will certainly benefit the Company as we execute our comprehensive strategy."
Currently, Ball is the chief financial officer of Parsons Corp., an international engineering, construction and management services firm based in Pasadena, Calif.
NCI Building Systems is an integrated manufacturers of metal products for the nonresidential building industry. NCI is comprised of a family of companies operating manufacturing facilities across the United States and Mexico.