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Marketplace

A tale of 3 Q3s

Marketplace

Marketplace

News, Business

4.68.5K Ratings

🗓️ 12 November 2024

⏱️ 26 minutes

🧾️ Download transcript

Summary

Financial data from three industry-leading firms tells three very different stories. Concert promoter Live Nation had a scorching-hot summer season, while car rental company Hertz fumbled an electric vehicle investment. Home Depot fell somewhere in between. Also in this episode, housing construction. Are townhouses a solution to the shortage of homes? And why does HUD take years to fund rebuilding after natural disasters?

Transcript

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0:00.0

We've got some corporate earnings today, a little housing, and stick around for the longest job title I've ever heard from American Public Media.

0:11.8

This is Marketplace.

0:24.7

In Baltimore, I'm Amy Scott in for Kai Rizdahl.

0:26.6

It's Tuesday, November 12th.

0:27.6

Good to have you with us.

0:35.3

For those of us who've been distracted by other news, may I remind you that we are at the tail end of corporate earnings season,

0:39.8

and those profit reports and forecasts can tell us a lot about the underlying economy. Among the Bellwether's reporting today was Home Depot. The Home Improvement

0:46.3

chain said its third quarter sales came in higher than expected, but that customers are feeling

0:52.1

cautious. Marketplaces Kristen Schwab takes a closer look.

0:56.5

John Talbot isn't really a seasonal decor guy himself.

1:00.2

But I am married and my wife enjoys decorating for Halloween.

1:05.5

She's more of the gourds and pumpkins type, not so much the 12-foot outdoor skeleton type, an actual Home Depot

1:12.3

product that kind of went viral this year. Talbot, a retail marketing professor at Indiana

1:17.4

University, says seasonal decor was a hit for the company. I think consumers will spend on

1:25.0

things that make them feel happy.

1:30.0

Happiness does have a price limit, though.

1:32.4

Big ticket transactions at Home Depot,

1:33.9

ones over $1,000.

1:38.3

Those were down nearly 7% compared to the same quarter last year.

1:40.7

Consumers are still on the sideline.

1:43.5

Jamie Katz is an equity analyst at Morningstar. She says people are still uncertain about

1:45.8

inflation and uncertain about when mortgage rates might fall. And that has kept the housing market

...

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