Home Depot's Christmas Sweater With Tool Belt Sparks Investor Reaction
Home Depot (NYSE:HD) has started selling Christmas decorations, including a new and unusual item: a Christmas sweater with a built-in tool belt. The sweater, which is available in limited quantities, comes with a range of tools and a $50 gift card that can be redeemed for peppermint-scented items.
The sweater's price tag is $29.99, making it a potential loss-leader product. It will only be available in two runs, starting on October 5 and October 15 respectively. Customers will be limited to purchasing one sweater each, with sizes ranging from extra-small to double-extra-large.
While the Christmas sweater may be a novelty item, Home Depot's overall holiday décor collection is expected to include more traditional items such as trees, animatronic Santas, and holiday buckets. Analysts have a Moderate Buy consensus rating on HD stock, with an average price target of $387.16 per share implying 38.15% upside potential.