Are we losing the home improvement category as a growth spur? One of the most reliable themes out there has been the desire to spruce up your home because it is now an investment, not an expense, when it improves in value. Don't take that from me, take it from Carol Tome the brilliant CFO of Home Depot (HD) .
But this morning we got downside surprises from Whirlpool (WHR) and Sherwin Williams (SHW) , which comes on top of PPG (PPG) . We need to know what the heck is going on here and have to dig deeper because appliances and paint are two very important categories of Home Depot, which is down badly in the wake of these disappointments.
I find this just plain worrisome. When you merge it with the obvious price wars in athletic apparel and the aversion to dining out or going to most stores in the mall, you are losing a pretty key sector to hang your hat on.
I was hoping that PPG's woes would be share loss in paint. Now we know otherwise.
Not a good indication.