Among the beneficiaries: Lowe's and Home Depot.
Do-it-yourself projects were declining. Then the pandemic arrived.
All this time at home has a lot of us rethinking our living spaces — with sometimes regrettable results.
People are still shopping — just for different stuff.
Home Depot reported a 6% increase in sales and True Value says paint sales are up more than 20% as Americans use lockdown to clean up, paint up, and fix up.
As people spend more time at home because of COVID-19, they are thinking about how they can improve those spaces.
Home Depot posted better-than-expected earnings and revenue for the fourth quarter.
Companies like Home Depot and Lowe's have benefited from homeowners fixing what they already own.