BUZZ-Home Depot, Lowe's rise; LA wildfires to lead to rebuilding activity
** Shares of home improvement companies Home Depot HD.N and Lowe's LOW.N up about 2% premarket
** Wildfires in Los Angeles have killed at least 10 people and destroyed nearly 10,000 structures, with five fires burning into a third night on Thursday
** While obviously very preliminary, we estimate Home Depot and Lowe's could see a modest ~30-40 basis point total comparable sales lift in FY25, while Floor & Décor could experience a ~100 basis point benefit, Gordon Haskett Research Advisors analyst Chuck Grom says
** Home improvement companies have historically seen a rise in sales following natural disasters as people spend on rebuilding homes
** In 2024, HD rose 12% while LOW rose ~11%
(Reporting by Juveria Tabassum in Bengaluru)
((Juveria.Tabassum@thomsonreuters.com;))
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