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Home Depot’s fourth-quarter performance was muted by ongoing caution from American consumers in a weak housing market, but the home improvement retailer topped Wall Street expectations.The Atlanta company earned $2.57 billion, or $2.58 per share, for the three months ended Feb. 1. Stripping out one-time charges or benefits, earnings were $2.72 per share, topping analyst projections for per-share earnings of $2.53, according to FactSet.A year earlier it earned $3 billion, or $3.02 per share.An extra week in fiscal 2024 added approximately 30 cents per share to the year-ago quarter.Home Depot’s stock rose more than 3% before the market opened on Tuesday.Revenue totaled $38.2 billion, down from $39.7 billion a year earlier. The extra week in the prior-year period added about $2.5 billion of sales.Wall Street was looking for revenue of $38.09 billion.Sales at stores open at least a year, a key indicator of a retailer’s health, edged up 0.4%. In the U.S., comparable store sales climbed 0.3%.Chair and CEO Ted Decker said in a statement that Home Depot’s quarterly results “were largely in-line with our expectations, reflecting the lack of storm activity in the third quarter and ongoing consumer uncertainty and pressure in housing. Adjusting for storms, underlying demand was relatively stable throughout the year.”Customer transactions dropped 1.6% in the quarter. The amount shoppers spent rose to $91.28 per average receipt from $89.11 a year earlier.Home Depot and other retailers have seen customers cut back on their spending amid concerns about inflation and economic uncertainty. A frozen housing market has added to more tepid spending, particularly for Home Depot.The U.S. housing market has been in a slump dating back to 2022, the year mortgage rates began climbing from historic lows that fueled a homebuying frenzy at the start of this decade. And consumer confidence declined sharply in January, hitting the lowest level since 2014 as Americans grow increasingly concerned about their financial prospects.Neil Saunders, the managing director of GlobalData, said there has been a shift in the behavior of homeowners because of the housing market and the economy, with more people taking on smaller projects now.“The broader truth here is that Home Depot does best for big scale improvement tasks and major DIY jobs and is a major destination for consumers undertaking such work,” Saunders wrote Tuesday. “Unfortunately, the market did not play ball over the final quarter with the number of projects undertaken down by 1.5%, mostly driven by a sharp decline in bigger ticket projects, such as full remodels.”That sent more homeowners to local hardware stores, which can easily fulfill orders for smaller projects.For fiscal 2026, Home Depot anticipates adjusted earnings to be approximately flat to up 4% from fiscal 2025’s $14.69 per share. The company foresees total sales growth of about 2.5% to 4.5% and comparable sales growth to be approximately flat to up 2%. Michelle Chapman, AP Business Writer
Category:
E-Commerce
Its another bad day for Bitcoin. Over the past 24 hours, the digital token has declined nearly 4.5%, putting it just above $63,000 and within range of its 52-week low. But this time, Bitcoins fall seems to have nothing to do with the token itselfor the broader cryptocurrency market. Rather, its steep drop seems to be driven by three unrelated factors, to varying degrees. Here’s what you need to know: Bitcoin approaches 2026 and 12-month lows Since Bitcoin hit an all-time high of just over $126,000 per coin in October, the digital token poster child has had a dramatic fall from grace. The coins momentum, which seemed unstoppable last fall, has sharply reversed course. At its current price of around $63,192, it is now down 50% from its all-time high. And this isnt even the worst drop that Bitcoin has suffered recently. Earlier this month, Bitcoin fell to $62,353 before rebounding. Now, Bitcoin is again within touching distance of this Februarys low. To be fair to Bitcoin, it isnt the only major cryptocurrency seeing steep declines over the past 24 hours. Heres how Bitcoin compares to other major coins as of the time of this writing: Bitcoin: down 4.5% Ethereum: down 4.7% BNB: down 3.2% XRP: down 4.5% Crypto de-risking may be a driving factor Why are all these tokens down so much over the past 24 hours? Interestingly, the fall seems to have little to do with the cryptocurrencies themselves. Instead, today’s crypto decline seems to be spurred by de-risking activity. De-risking is when investors take their money out of high-risk, volatile assets, by selling those assets and investing the proceeds of those sales into other assets that are considered lower risk, and thus less volatile. Bitcoin and cryptocurrencies in general are high-risk, volatile assets because their prices can swing widely over a short period of time (hello, todays drops and Bitcoins 50% fall over the last six months). Besides cryptocurrencies, other high-risk, volatile assets can include various types of stockslike those in the tech sector. In contrast, safe-haven, low-volatility assets include things like gold and government bonds. High-risk, volatile assets can see their prices swing wildly in response to external factors unrelated to the assets themselves. These swings occur because external factors can introduce significant uncertainty into markets. Uncertainty can lead to losses, so investors try to mitigate future losses by selling high-risk assets to lock in any gains or prevent further declines from affecting their portfolio. And over the past 24 hours, there has been a hat trick of external uncertainties that is likely leading some crypto investors to derisk. Trumps new tariffs, Iran, and AI are weighing on investors minds Over the past 24 hours, three events have occurred that risk injecting significant uncertainty into the economy, and they are likely weighing heavily on the minds of crypto investors. Most significantly of the three is that Trumps new tariffs are now in effect. Last week, the president suffered a dramatic loss when the Supreme Court struck down his signature tariff policy, and thus, the majority of his Liberation Day tariffs could no longer be collected. In response, Trump vowed to use other methods to impose tariffs on countries around the world. Those tariffs, of up to 15%, are now in effect. However, in many cases, the new tariffs’ timeframe may be limited to just 150 days without additional approval from Congress, which the legislative body may or may not give. All this is causing great uncertainty for businesses and governments, and ultimately risks impacting the economy and marketsagain. Also, in the past 24 hours, America is closer than ever to invading Iran. Trump administration officials are due to meet Iranian counterparts in Geneva on Thursday, and if those talks fail, many fear that the president will make good on his threat to attack the country. Many experts say a war with Iran could be a prolonged one, and prolonged wars have habits of negatively impacting the global economy. Finally, yesterday, an announcement from Anthropic spooked investors in legacy SaaS (software-as-a-service) companies. As reported by CNBC, Anthropic announced that its Claude AI could now modernize legacy COBOL systems. COBOL is a computer programming language that has been around since the 1950s and is still the backbone of most corporate systems. After Anthoripics announcement, shares in IBM sank, as IBM generates significant revenue from maintaining these legacy COBOL systems. Now Anthoripic says its Claude tools can quickly Identify [COBOL] risks that would take human analysts months to surface. As a result, IBM shares dropped 13%. But Anthropics news also spooked investors with significant holdings in legacy software companies. Tech stocks can already be volatile, and more proof that AI could have a significant impact on legacy tech companies sent shivers down investors spines. Given the triple uncertainties of tariffs, Iran, and AI, its no wonder why investors seem to be de-risking from volatile assets like Bitcoin in an attempt to protect their gains or prevent further portfolio losses.
Category:
E-Commerce
Neuroscientists have found birding is actually a brain hack. A new study published in JNeurosci, the Journal of Neuroscience found birdwatching may actually alter the structure and function of your brainwhat is known as neuroplasticityeffectively helping to boost cognitive abilities, especially in more seasoned bird watchers. Our brains are very malleable, lead researcher Erik Wing, a research associate at York University in Toronto, explained. Wait, what exactly is neuroplasticity? Neuroplasticity is basically the process or way your brain learns, creates memory, and adapts to experiences and trauma, according to Psychology Today. Research shows that while the brain changes and develops the most in childhood, it continues to do so throughout your life. Today, neuroscientists see the brain as a dynamic and flexible organ, one that can “reorganize connections” through “wiring” and rewiring. How bird watching helps your brain The new study of 58 adults compared the brains of 29 expert birders (ages 24 to 75), and 29 beginners around the same age. It found something interesting: The MRIs of the expert birders’ brains had more density when it came to areas governing perception and attention, than those of the novices. Again, they didn’t divide the two groups based on a person’s agebut based on their birding knowledge and expertise. Birding, which involves deep concentration and the ability to identify different birds, alters brain activity and structure in the same way becoming an expert musician or athlete does. That’s because they all require extensive brain training. So, what did the study conclude? In short, it found the process of becoming an expert birder boosted brain cognition. And while it doesn’t stop brain aging, it does suggest that it could help minimize age-related declines in the future.
Category:
E-Commerce
One of the many constitutional duties of the president is giving a State of the Union address to Congress. Article II, Section 3 only mandates that this act happen “from time to time,” but it has become an annual event. Tuesday, February 24, will technically mark President Trumps first State of the Union address of his second termeven though he lectured Congress in 2025. That speech was labeled an address to a joint session of Congress, so Trump could speak on his goals for his second term. Heres everything you need to know about tonights SOTU address. What topics could Trump speak about? Most pundits agree, the economy will be front and center. President Trump even teased this himself last Wednesday, February 18, at the White House. Watch the State of the Union. Were going to be talking about the economy. We inherited a mess, he stated. This could mean he will spend some time blaming his predecessor President Joe Biden for the country’s ills. Vice President JD Vance also confirmed that economics will take precedence. Youre going to hear a lot about the importance of bringing jobs back into our country, of reshoring manufacturing, of all these great factories that are being built, he explained in a Fox News interview. Recent polling shows the need for Trump to tackle this important issue ahead of the midterm elections. According to a recent Associated Press NORC Center for Public Affairs Research survey, only 39% of American adults approve of his economic leadership. He loses a percentage point for immigration. Add these low numbers predate Fridays Supreme Court ruling, which declared that some of Trumps tariffs exceeded executive powers. Either way, Trump is going into the State of the Union with low poll numbers. Are Democrats boycotting the SOTU? The Democratic party is expected to display varying acts of dissent during Trumps State of the Union Address. House Minority Leader Hakeem Jeffries plans to attend, but outlined his expectations for his fellow party members. Either attend with silent defiance or not attend, he instructed. He doesnt want a repeat of last years ejection of Texas Representative Al Green. Many are taking the second option, including Senator Chris Murphy of Connecticut; and representatives Greg Casar of Texas and Pramila Jayapal of Washington. These lawmakers are instead attending another event, the Peoples State of the Union, organized by MoveOn and MeidasTouch. This will take place on the National Mall. Another counter-programming event will be held at the National Press Club: It’s is being called the State of the Swamp. Senator Ron Wyden of Oregon is scheduled to appear. Additionally, Senator Patty Murray of Washington is planning on meeting with constituents instead. Who is giving the Democratic response? After President Trump has his say, the Democrats have their turn to speak. This year, they have elected Governor Abigail Spanberger of Virginia to represent their interests. She is a vocal Trump critic and is not expected to hold back. Senator Alex Padilla of California will give the Democratic Spanish-language response. Who is giving the Progressive response? Democrat Representative Summer Lee of Pennsylvania will also speak. She will give the Working Families Partys response. Since American politics is dominated by a two-party system, this progressive group allows members to be a part of another party while also closely aligning with Democrats. How to stream the SOTU live The State of the Union 2026 speech is scheduled to begin tonight (Tuesday, February 24) 9 p.m. ET. Most major networks such as NBC, CBS, and ABC will cover the speech, as will major cable networks including C-SPAN. If you have an over-the-air antenna, you can watch it for free on a broadcast network or PBS. Traditional cable subscribers are also covered. You can also find SOTU 2026 on live-TV streaming services such as Hulu + Live TV, YouTube TV, and FuboTV. Last but not least, you can easily live-stream the State of the Union speech for free on the YouTube channel of PBS News. We’ve embedded that video below.
Category:
E-Commerce
San Francisco restaurant Mister Jius is kicking off its 10th anniversary celebration next month with a three-part dinner series in its Chinatown kitchen. The restaurant will host 10 celebrated Chinese chefs from around the world, including Dan Hong from Sydney, Australias Mr Wong, and ArChan Chan from Ho Lee Fook in Hong Kong. Guests, seated in tables of four or eight, pay $285 each for 16 dishes from four chefs, all inspired by classic banquet-style dining. The even is nearly sold out, and, according to executive chef and owner Brandon Jew, an exciting creative collaboration that the restaurant couldnt afford to produce on its own. The extravaganza is sponsored by Resy, the reservations provider used at Mister Jius and one of two reservations platforms owned by American Express. The payments company acquired Resy in 2019 and competing service Tock in 2024 to help its card members access both tables and special events at top restaurants, like the dinner collabs at Mister Jius. (Amex card members were able to secure bookings to the event 48 hours before everyone else.) The series is among hundreds of events that Resy will put on this year to try to coax more diners into restaurantsand more restaurants onto Resy. That platform is about to get a shot in the arm. This summer, Amex will merge Tocks restaurant inventory with Resys, adding roughly 8,000 bookable venuesincluding 1,200 wineries, a handful of tattoo parlors, and at least one goat farmto Resys app and website. The move boosts Resys venue count to 25,000, but will sunset the Tock brand, formally uniting two onetime startups against reservations market leader OpenTable, the incumbent provider they each hoped to disrupt. Crucially, it also bolsters Amexs position amid increased competition: Delivery company DoorDash spent $1.2 billion to acquire reservations platform SevenRooms last year and offers diners delivery credit for booking tables, and Chase Sapphire linked up with OpenTable last spring as part of its larger Visa partnership to offer exclusive restaurant bookings. Chase also has a longstanding partnership with DoorDash, offering Sapphire holders credit. Resy will be the singular app for the best culinary experiences used by the hospitality world’s most ambitious operators, with a membership benefit for card members, says Pablo Rivero, CEO of Resy and Tock and SVP and head of American Express global dining. And all of that will come together under the umbrella of a new era for the Resy ecosystem. Behind the Resy-Tock merger The merger follows efforts by American Express to link its cards to reservations services that provide valuable access to restaurants. When the card issuer raised its Platinum card fee by $200 last September, it added a $400 annual credit for diners to use in Resy restaurants. This summer, Tock restaurants will start to become eligible for the credit, with the majority eligible by the end of 2027. Brandon Jew [Photo: Courtesy of Resy] It was a powerful move; in the three weeks following the announcement, there was a 36% increase in Resy reservations made by users with a U.S. Platinum card linked to their accountand a five times increase in the daily average number of accounts being linked. People using the Resy credit are spending, on average, 25% more, according to Rivero. Resy wants its restaurants to notice; in January, it sent partner restaurants a Spotify Wrapped-style digest that included the value of Resy credits earned by Amex users at their business. Look out for more of these card members in your seats in 2026, it promised in its note to restaurants. Amex is already seeing results: In the fourth quarter of 2025, global restaurant spend by American Express card members was up 9% overall, but spending by American Express card members at Resy restaurants was up more than 20%. Both Resy and Tock launched in 2014 with new approaches to restaurant reservations. Resy challenged OpenTables longtime model of charging restaurants per reservation. Instead, it offered a monthly subscription to its reservations and table management software. Around the same time, Tock pioneered a new model, prepaid ticketing, with the thesis that diners should book and pay for dinner the same way theyd buy tickets to a Broadway play or a football game. Founder and CEO Nick Kokonas, a former derivatives trader, launched the tech inside Alinea, the Chicago fine dining restaurant that he cofounded. One platform, two systems Tocks structure immediately attracted fine dining restaurants drawn to a fresh idea. Kokonas, meanwhile, seemed to relish antagonizing chief competitor OpenTable, which he accused of peddling outdated technology and a stale business model. In one memorable marketing stunt, he planned to distribute 5,000 plastic dinosaurs at an industry trade show, each branded with the URL OpenTableSaurus.com, which then led to Tocks homepage. A cease-and-desist letter from OpenTable thwarted the plan, and Tock eventually gave them the domain. But Kokonas, refusing to accept defeat, pointed a second URL, DinosaurTable.com, at Tocks homepage to underscore his position. (Both URLs still work.) Kokonas wanted the restaurant industry to embrace the prepaid model that eliminated nearly all of the dreaded and expensive no-shows at its restaurants. Eventually, Tocks competitors added prepaid ticketing to their platforms, and Tock started offering free reservations. By th time American Express acquired Tock from website-building platform Squarespace for $400 million in 2024 (Squarespace paid the same amount to acquire the business in 2021), its diner-facing productsfree reservations, deposits, ticketshad become standard across providers. But Tock maintained an impressive roster of high-end restaurants, which bought into the platforms adaptable technology and the companys reputation for serving them well, something that Tocks restaurant customers hope wont vanish when the brand does. Its so clear [Tock] was built by restaurant people that understand service, says Anya Abrams, managing director at Blue Hill in upstate New York. Blue Hill operates the two-Michelin-starred restaurant Blue Hill at Stone Barns, alongside the more casual Cafeteria, which serves lunch and communal-style dinner. It uses prepaid ticketing on Tock for both. It also uses the platform to facilitate experiences like farm tours and cocktail demonstrations. Abrams says that at her request, Tock has added product features and changes that fit the companys complex needs. [Photo: Courtey of Resy] Once bookings at Tock restaurants are moved to Resy, Rivero says that diners will see and be able to book the exact same tables and experiences that they would on Tock, cocktail tastings and farm visits included. Restaurants using Tocks software to manage their venues wont notice any tech changes on their end besides a switch to Resys logo. Restaurants already using Resy won’t see any changesthough if they prefer to switch to Tocks operating system, which many say offers better tech, they can. Tock has built an incredible product that so many restaurants have come to use and love, and we dont want to mess with that, Rivero says. Eventually, Rivero says, Amex will combine Resy and Tocks restaurant-facing tech, made up of the best of both, along with new features and integrations. He didnt share a timeline, but restaurants have been told to expect the change in 2027. A battle for restaurants Amid this heightened competition between platforms and credit cards, restaurants have gained more negotiating power. Over the last year or so, reports and rumors have surfaced of restaurants receiving five-, six-, or even seven-figure payments to switch between booking platforms including Resy, Tock, OpenTable, and SevenRooms. The services and their deep-pocketed owners and partners are hoping that the cash infusions, along with promises to fill dining rooms with people eager to spend, will net them the most desirable restaurants. In San Franciscos Chinatown, Brandon Jew is happy the platforms, including Resy, see the value in restaurants like his, which work to create great experiences for diners. Restaurants have a very natural way of being able to storytell and provide experiences, entertainment, and food and beverage that contribute to memorable events, he says. I think thats what the reservation systems are interested in providing, especially for their elite users. It’s such a weird era, he adds. I feel like we’re so used to paying for their products. For now, at least, the tables have turned.
Category:
E-Commerce
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