In spite of recent growth trends, Charles Goldblum, President and Founder of Hurley Capital, LLC, doesn’t like the home improvement retail sector.
“Home Depot (HD) and Lowe’s (LOW) stocks have done very well this year, up 25% and 43%, respectively. They’ve reported great sales growth and have benefitted from the resurgence in the homebuilders,” Goldblum said. “And I think that will dissipate.”
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But, he said he hasn’t yet shorted Lowes or Home Depot because expectations for the stocks aren’t that high going forward.
“Where they had very high same-store sales in the first half, they guided to much lower in the second half,” Goldblum says. “So without high expectations, we can’t short them.”
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