The DIY boom is ending… but someone still needs to fix the faucet. DIY-mania powered strong 2020 sales at Home Depot and Lowe’s. But last quarter, sales of “pro” products for contractors exceeded sales from DIYers at both companies — and helped their sales continue rising year-over-year. We’ll see if their new focus on pros through everything from tool rentals to supply chain improvements has paid off when both companies report earnings this week.
Shop ‘til the stimmies stop… After a spring of up-and-down consumer spending, retail sales rose above pre-pandemic levels in June as people spent padded savings and leftover stimulus cash on electronics, cars, and online classes. But inflation, the spread of Delta, and the end of stimmy payments could dampen the buzz. We’ll get a pulse check on America’s shopping spree when the July retail sales report, which tracks retail and restuarant spending, drops on Tuesday.