Home Depot reported another drop in sales in the third quarter, trimming back its outlook for the rest of the year. The company said shoppers pulled back as repair projects slowed.
Executives blamed weak housing activity and an unusually calm stretch of weather. Fewer storms meant fewer emergency fixes, which normally push traffic. Shoppers also scaled back on home-improvement projects, especially the bigger jobs that usually follow a move or a remodel.
A dip at Home Depot often points to where the economy is heading next. A softer quarter means homeowners are being cautions. It also hints that the broader economy may be losing some steam.
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Panera Bread Is Going Through Multimillion-Dollar Makeover After Sales Go Stale
Photo by Kevin Carter/Getty Images
Panera Bread is gearing up for a reset. Sales fell about 5 percent last year. That drop pushed new CEO Paul Carbone to admit the company lost it’s way and needed a course correction, according to The Wall Street Journal.
The changes start with the basics. Panera is bringing back better ingredients, beefing up its portion size, and reworking its salads. Stores are being freshened up. Staffing is being rebuilt. The company also put its planned IPO on hold until the turnaround takes shape.
The move shows how rough the fast-casual landscape has become. Diners are fussier. Margins are tighter. If Panera Bread can heat back up, the rest of the sector will be watching.
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