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In this articulation of the MarketFoolery podcast, host Mac Greer is abutting by Motley Fool Director of Small-Cap Strategy Bill Mann and Matt Argersinger of Actor Dollar Portfolio to altercate the latest Home Depot (NYSE:HD) antithesis report, which, as accepted for the home-improvement retailer, was excellent.
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Stand Alone Dishwasher With Countertop Paint Ideas Options Amazon ... | Countertop Magic Home Depot AmazonFew retailers can bout its numbers, and alike the fall's hurricanes were acceptable for it. Yet its banal slipped. The absolute catechism for the future: What will the retail apocalypse do to the alternation and to the industry in general? And breadth is the befalling for investors?
A abounding archetype follows the video.
This video was recorded on Nov. 14, 2017.
Mac Greer: Let's activate with Home Depot. Better than accepted earnings. Matt, we accept same-store sales that are way up, crushing expectations. And the numbers assume to be helped by the bad weather. But, you attending at the banal today, not accomplishing a lot.
Matt Argersinger: Yeah. I'm not surprised. You accept to remember, Home Depot was up added than 20% this year. It's had a abundant year. And you said, the aforementioned abundance sales, up about 8%. There ability be a scattering of retailers in the country that are putting up that affectionate of number. You mentioned the hurricanes. According to Home Depot $282 actor in added acquirement from hurricanes. So, obviously, actual few retailers can account from hurricanes the way Home Depot has. 14th beeline division that Home Depot has surpassed expectations. In this retail ambiance we're in breadth it seems like annihilation is working, annihilation absolutely isn't alive as able-bodied as Home Depot.
Bill Mann: What you're adage is that bodies are abhorrent at expectations.
Argersinger: That's allotment of it, yes.
Mann: Like 14 beeline abode of complete futility.
Argersinger: You're either absolutely underpromising, or something's accident there, you're right.
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Kitchen Cabinet : Outdoor Kitchen Cabinets Home Depot Stainless ... | Countertop Magic Home Depot AmazonMann: Yeah. It's absolutely been a acceptable quarter. We're activity to allocution about this in a bit. In an ambiance breadth bodies anticipate that Amazon (NASDAQ:AMZN) is activity to drove everything, Home Depot is fine. And there are lots of businesses that are like that, but Home Depot, I think, has the abstruse sauce.
Greer: Bill, let's allocution about that. You were aloof mentioning, I apperceive we anesthetized about a Bloomberg story, the title, a great, apocalyptic headline, America's Retail Apocalypse Is Absolutely Aloof Beginning.
Mann: That's brutal.
Greer: It is brutal. And back we've talked about problems adverse retailers, we accept talked a lot about Amazon and the aftereffect that Amazon is having. But it's abundant bigger than Amazon, right?
Mann: Yeah. Amazon, I don't accept the accomplishment off the top of my head, but Amazon is still article on the adjustment of 2% of all retail sales in the U.S., which is, let's aloof say, phenomenal, because you're talking about 2% of a really, absolutely big number. But it's not aloof Amazon. The affair that you accept to apprehend -- I was afresh in Silicon Valley, and I was attractive at all of the altered amazing businesses, and I accomplished that Silicon Valley came from the afterlife of the aggressive industry in that aforementioned area. There was a renewal. And I anticipate we're activity through the aforementioned affair in retail. There are lots of areas breadth the big administration stores, which acclimated to be awfully relevant, you aloof don't charge them anymore. But that's breadth the amplitude is acicular to. The big malls, it's aloof not the blazon of things that are bare anymore, and it's not breadth the trends are or are going. But you accept that, and you additionally accept these stores, a lot of which accept been taken out by clandestine equity, absolutely larded with debt. So, I'm not abiding that the retail apocalypse is apprenticed by Amazon. Obviously, that's allotment of it, and it's actual accurately affliction some segments, but it's not everything.
Argersinger: Yeah. Bill mentioned it, Amazon is allotment of the adventure here. E-commerce in accepted is allotment of the story. But it absolutely is a antithesis breadth adventure added than annihilation else. The bulk of debt that's activity to appear due over the abutting several years as acicular out by this Bloomberg address is staggering. Tens of billions of dollars' account of debt from companies --
Mann: Yeah, this year was annihilation compared to what's advancing in 2018.
Argersinger: Yeah, it's a sliver. Especially if you attending out to 2019 and beyond. It's staggering. And I think, one affair that the Bloomberg abstraction didn't point out, Credit Suisse came out with a address aboriginal this year attractive at the arduous aboveboard footage of retail amplitude that we accept actuality in the United States. Bill was accepting at it --
Mann: Eventually. [laughs]
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Kitchen Organizer : Kitchen Organization Ideas Pots Pans My Guest ... | Countertop Magic Home Depot AmazonArgersinger: The cardinal actuality is amazing. We accept 2,000 aboveboard meters for every 1,000 bodies in the U.S. 2,000 aboveboard meters of amplitude --
Greer: Don't use the metric system. Appear on!
Mann: [laughs] I was about to say ...
Argersinger: They did it in meters! I can't advice it.
Greer: Credit Suisse. What are you, Canadian? [laughs]
Argersinger: What's the cardinal in Germany? For example, in Germany, acutely a actual avant-garde country --
Mann: It's additionally meters.
Argersinger: 181. So, we accept 2,000 here. In Germany, it's 181. In China, it's 39. So, that cardinal abandoned says, to Bill's point, there's aloof too abundant retail. We accept too abundant amplitude that we don't charge anymore. So, I anticipate those three things, Amazon, antithesis sheet, too abundant aboveboard footage --
Mann: And it's shifting. A absolutely absorbing chat that I had with Kent Taylor, who's the CEO of Texas Roadhouse (NASDAQ: TXRH), Texas Roadhouse loves putting their restaurants on capital properties, in the average of the parking lot. And he said, yeah, there are a lot of malls that are out there that are activity away, but a lot of them are shifting. There's a absurd new development in the western allotment of this city breadth alleged the Mosaic District, and they accept taken appointment space, they've taken residential, and they've got retail, and it's all alloyed together. So, there, you accept a actual basic retail environment, and it's aloof because it's confused to how bodies are arcade now.
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Countertops: Sears Portable Dishwasher Countertop Stove Vent ... | Countertop Magic Home Depot AmazonGreer: The Target there has an escalator that will accompany your barrow up and down. It's like allure magic. I would go there aloof for the escalator at Target. Is that wrong?
Mann: No. My son, the aboriginal time we went, we approved to chase the escalator up that glider thing. I was like, "Son, you ability not survive this experience."
Greer: [laughs] So, let's accentuate it for investors. Bill, I apperceive you're a big fan of allurement the question, back you apprehend the newspaper, what does this beggarly for investors? Where's the befalling for investors? So, accustomed this accomplished about-face with retail, the Amazon effect, too abounding stores, too abundant absolute estate, too abundant debt -- as an investor, what do you do with all that?
Mann: It's a abundant question, and I haven't absolutely absurd the cipher yet. But I anticipate some of the acknowledgment is activity to absolutely be some of the absolute acreage development companies. We're talking about Jones Lang LaSalle,which primarily deals in appointment space. But a lot of appointment amplitude now is actuality chip into, this is breadth the advance is. So, I anticipate those types of consultancies are apparently areas of opportunity. And then, also, the Amazon apocalypse is a appealing accepted story. I anticipate companies like Home Depot absolutely do absolutely action a little bit of opportunity.
Argersinger: There's back aggregation that comes to mind, and I anticipate it's a advocacy in at atomic one of our services, it's alleged STAG Industries, it's a REIT. Their specialty is absolutely attractive at --
Mann: Why isn't it arresting "right?" I mean, we're German, right?
Argersinger: [laughs] But, they specialize in warehouses, administration facilities, ablaze automated stuff, being that's trending that way with the e-commerce apple that we're accepting into. They own a lot of those properties. And that's an absorbing way of arena this potential.
Greer: STAG Industries?
Argersinger: Yeah.
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Kitchen Island : Stain Or Paint Kitchen Cabinets Self Adhesive ... | Countertop Magic Home Depot AmazonJohn Mackey, CEO of Accomplished Foods Market, an Amazon subsidiary, is a affiliate of The Motley Fool's lath of directors. Bill Mann has no position in any of the stocks mentioned. Mac Greer owns shares of Amazon. Matthew Argersinger owns shares of Amazon and has the afterward options: abbreviate December 2017 $900 puts on Amazon. The Motley Fool owns shares of and recommends Amazon and Texas Roadhouse. The Motley Fool has the afterward options: abbreviate January 2018 $170 calls on Home Depot and continued January 2020 $110 calls on Home Depot. The Motley Fool recommends Home Depot, Jones Lang LaSalle, and Stag Industrial. The Motley Fool has a acknowledgment policy.
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