Which Retailers Will Follow Home Depot in Announcing Major Share Repurchase Programs?
Wall Street Strategies submits:
By Brian Sozzi
Home Depot's (HD) $2 billion note issuance triggered flashbacks to the go-go days of 2007-2008, when the use of cheap debt funding was running rampant as a means to juice shareholder returns. From 2008 to 2010, Home Depot was in de-leveraging mode, cutting its LTD/Equity ratio to 46% in 2010 from the cycle peak of 64% in 2007. The focus by CEO Frank Blake and his team was on returning Home Depot to a leadership position in the home improvement marketplace and improving operations at the store and back office levels in the pursuit of driving above consensus earnings growth.Customer service issues will always seem to follow Home Depot around, no matter the internal measurement scores, but for the most part management has delivered an impressive earnings story to its shareholder base amidst a very turbulent recovery in the housing market. Keep in mind Home Depot'sComplete Story »
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