The "Fast Money" traders share their final trades of the day including HD, SNAP, and more Home Depot on Tuesday beat Wall Street’s earnings expectations for the fourth quarter, boosted by a strong holiday season and above average sales of appliances.
The Atlanta-based home improvement retailer has been focused on integrating its brick-and-mortar stores and its online business. It’s in the middle of a three-year, $11 billion investment program. Home Depot CEO Craig Minear said results from the quarter show those investments are paying off.
He said Home Depot has stepped up its digital shopping experience, such as adding better search functionality to its website and in-store labels that allow customers to read an item’s digital ratings. Home Depot had one of its biggest single days of mobile app downloads in December, after it launched a new marketing campaign.
“We’re excited about our e-commerce business as part of a whole interconnected retail strategy,” Craig Menear said in an earnings call. “We believe that the front door of our store is now in the customer’s pocket, it’s on the job site, that most of our customer’s shopping experience actually starts in the digital world even if it finishes in the physical world.”
He said over 50% of the time customers choose to pick up their online orders in store.
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