Durable Orders; New Home Sales; Dollar Store; Toll Brothers
Summary: Dimestore earnings down on reduced traffic, meanwhile, homebuilder swings to a loss on massive writedowns.
Confirming ISM, Philly, New York & Richmond Fed, durable orders tumble. New Home Sales 3rd straight decline and lowest since 1995.
Dollar Tree, modern day dimestore, Q4 earnings -3% on reduced store traffic 1.2%.
CEO Bob Sasser: "We saw pressure on the customer from general economic uncertainty and especially the pressure on the customer from high fuel prices."
Toll Brothers, high end homebuilder, reported a Q1 $96 million loss...
fueled by $245 million in writedowns. Revenue -22%; net contracts -50%; cancellations -40%; backlog -42%
Durable Orders Jan -5.3% vs prior +4.4% Full Report
Inside the number: Prior increase revised down from +5%. Ex transport new durable orders -1.6%; Ex defense new durable orders -4,3%. Shipments -1.8%.
New orders: Defense capital goods -19.9%; Non defense capital goods -8.1%; Non defense capital goods ex aircraft -1.4%; Ex defense orders(everything else) -4.7%.
New Home Sales Jan -2.8% at 588K vs prior 605K Full Report
Inside the number: YOY -33.9%; median price -15.1%; average price -12.1%. Inventory growing +4.2% to 9.9 vs 9.5 months; YOY +37.5%.
Confirming ISM, Philly, New York & Richmond Fed, durable orders tumble. New Home Sales 3rd straight decline and lowest since 1995.
Dollar Tree, modern day dimestore, Q4 earnings -3% on reduced store traffic 1.2%.
CEO Bob Sasser: "We saw pressure on the customer from general economic uncertainty and especially the pressure on the customer from high fuel prices."
Toll Brothers, high end homebuilder, reported a Q1 $96 million loss...
fueled by $245 million in writedowns. Revenue -22%; net contracts -50%; cancellations -40%; backlog -42%
Durable Orders Jan -5.3% vs prior +4.4% Full Report
Inside the number: Prior increase revised down from +5%. Ex transport new durable orders -1.6%; Ex defense new durable orders -4,3%. Shipments -1.8%.
New orders: Defense capital goods -19.9%; Non defense capital goods -8.1%; Non defense capital goods ex aircraft -1.4%; Ex defense orders(everything else) -4.7%.
New Home Sales Jan -2.8% at 588K vs prior 605K Full Report
Inside the number: YOY -33.9%; median price -15.1%; average price -12.1%. Inventory growing +4.2% to 9.9 vs 9.5 months; YOY +37.5%.
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