![]() Matt Argersinger: Yes, that's a great question. To what extent is it hitting the home building industry? But while this makes you happy as a homeowner because you're seeing the equity in your home can continue to rise, that's got to be a great feeling, if you're looking to buying a house or gosh, you are a first-time home buyer, which I feel really bad for this market, it's got to be scary to see these increases, especially in a lot of the markets where people are willing to buy a home like a lot of hot markets that we've talked about.Ĭhris Hill: One of the things we're going to talk about in a little bit is the global supply chain challenges that are going on affecting so many different industries. We're getting some nice year-over-year comparisons there. The spring summer portion of 2020, that was little bit depressed with what was going on with COVID-19 and then of course the whole market just really boomed in the fall of last year and we really haven't stopped since. Now, you have to look back and say, well, we are year-over-year from 2020. San Diego, up 28 percent, Seattle, up 25 percent. Home prices there are up 32 percent year-over-year. If you click further into the details, some of the markets in there are just incredible. July, by the way, was the fourth consecutive month of record price appreciation. Twenty percent July, that's coming off of almost 19 percent increase in June. But the sheer size of the increases have been pretty impressive. I've been expecting the whole market to stay strong as we've talked about. Matt Argersinger: Well, I think I was a bit surprised. There are a couple of things I want to get to, but I guess my first question is when the data came out, I'm assuming you were not surprised, did anything stand out to you in terms of what we're seeing right now in terms of the latest data we have on home prices? What did he say about that? In some cases, it was people that we work with who were looking to buy a home and the market they're in is crazy and they're like should I hold off for a few months? I told everyone that I'd asked you that question and you basically said, ''No, this isn't cooling off anytime soon.'' The other day we got the latest data that you were right, home prices in July up nearly 20 percent on an annual basis and this really shows no sign of cooling off. Then over the next couple of days when I told people I had interviewed you, everybody had the same question, which was essentially, what does Matt think about home prices? Home prices are crazy. The first time was early May and I remember we recorded the interview earlier in the week, a couple of days before the show. I wanted to talk about home prices and that's what we're going to talk about first because I've talked to you a couple of times over the summer on Motley Fool Money. I'm grateful for that.Ĭhris Hill: That's not why I have you on. Tritton used different math to describe the opportunities all the new programs represent: “It’s one plus one equals three.Matt Argersinger: I love you have me back on when there's bad news in the market. While the company did not give any sales projections, if all of these owned brand programs achieve their goals together they could represent as much as $3.5 billion in sales by 2024. “We’ve really been missing this piece of the assortment in our stores and this should all be incremental business for us,” Tritton said. It too takes a page from the playbook at Target, as well as from Walmart WMT, each of which has mined that pricing segment. The Simply Essential line will include more than 1,000 individual items including in functional categories and represents the first true opening price point full-store program in Bed Bath’s history. He described both programs as “cleanly designed.” Haven will be similarly sized and positioned and each will be shown cross-merchandised at the entrance to stores during their introductions, as well as by product within departments. The Nestwell program will encompass several hundred SKUs across the bed and bath categories slotted at a better price point in the good/better/best matrix. ![]() I’ve got to credit them because it is a very different ethos here.” “The team here did incredible work when you consider how quickly we did all of this. ![]() Target had a built-in product development and sourcing arm, Target Store Services, whereas BBB had to create this from scratch. Tritton admitted as much, saying he achieved success with it at Target and planned to do the same at BBB, but said the circumstances going in were somewhat different.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |