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Lowe's is slimming down to better compete with Home Depot.The company, which recently hired Marvin Ellison away from JCPenney to be its CEO, said it is shutting down its Orchard Supply Hardware stores and plans to slash inventory at its Lowes stores.The home improvement retailer did report earnings that topped forecasts on Wednesday, thanks to a healthy housing market. Shares surged more than 7 percent in early trading on the news.But Lowe's cut its sales and profit outlook for the year.The retailer is playing catch-up to industry leader Home Depot, which just last week reported strong results. 614

Mandy Lamay wants to go from renter to buyer, looking to close on her first property during the COVID-19 crisis.“I started right as the pandemic was hitting,” she said of her home search. “That was kind of my driving factor for buying a house.”Purchasing a property during a pandemic, however, has proven to be somewhat problematic for buyers like Lamay.“You have to be viewing the house day one it pops on the market,” she said. “If you’re actually interested, you have to put in an offer immediately.”This kind of competition has created all kinds of chaos across the country.“We are seeing this pent-up demand,” said Dr. Jessica Lautz, vice president of demographics and behavioral insights for the National Association of Realtors. “We’ve actually seen in every region on a national scale that home sales actually did increase.”Lautz says after two months of drastic decline during the coronavirus shutdown, pending home sales mounted a record rebound in May.“The month-over-month increase in pending home sales is the largest that we’ve recorded,” she said.That’s more than a 44% increase after seeing home sales drop to their lowest levels in nine-and-a-half years.“Buyers are rethinking their living situations,” Lautz said. “So, the demand is really hot and that’s going to drive up prices.”Also impacting prices are slow building, low inventory and low interest rates.Combine those factors with more Americans looking to move from big cities to smaller towns and Lautz believes America’s real estate market will be impacted even more.“People are reevaluating and saying, ‘I don’t want to live in a dense area, crowded city center, crowded blocks,’” she said. “Elevator living is just not the right thing for people today.”For Lamay, she’s locked in a 3.125% interest rate and says she may overpay for her first property, if it gives her a peace of mind.“And then hopefully I’ll have a big new yard for my dog and myself,” she said. 1948

ents in the Health Officer Order and are the tools we have to protect each other, our families and those most vulnerable in our communities.”L.A. Mayor Eric Garcetti said Monday that gatherings with people other than those you live with remain prohibited in the city.“Getting together with family, friends, coworkers, is how the virus spreads,” said Garcetti. “When we get exhausted, it gets strong. When we get lazy, it thrives. It only takes one infected person to spread COVID-19 through your network.”The mayor also said that his office has enacted a “hard pause” in the reopening of more businesses in the city, including theaters, bowling alleys, and amusement parks. 2406

MIAMI, Fla. — Tropical Storm Laura has strengthened near Puerto Rico, the National Hurricane Center said.As of the 5 p.m. update, Laura is about 100 miles west of Ponce, Puerto Rico, according to NHC. The system is packing 50 mph winds and is moving west at 18 mph.Laura is forecast to become a Category 1 hurricane once the storm approaches Cuba. It could remain a hurricane as it moves somewhat closer to FloridaABC Action News Chief Meteorologist Denis Phillips says intensity is a major question mark for Laura.On Thursday morning, Tropical Depression Fourteen also formed over the Caribbean Sea. It's also expected to develop into Tropical Storm Marco on Friday, according to NHC.Meanwhile, Tropical Storm Marco formed over the Northwestern Caribbean late Friday night. However, Marco does not pose a threat to Florida.QUICK TIPS TO HELP YOU PREPARE FOR A HURRICANEWatches and Warnings:Tropical Storm Warning:* Puerto Rico, Vieques and Culebra* U.S. Virgin Islands* The northern coast of the Dominican Republic from Cabo Engano to the border with Haiti* The southern coast of the Dominican Republic from Cabo Engano to Punta Palenque* The northern coast of Haiti from Le Mole St. Nicholas to the border with the Dominican Republic* The southeastern Bahamas and the Turks and Caicos Islands* Cuban provinces of Camaguey, Las Tunas, Holguin, Guantanamo,Santiago de Cuba, and GranmaTropical Storm Watch:* The central Bahamas* Andros Island* Florida Keys from Ocean Reef to Key West and the Dry Tortugas* Florida BayThis story was first reported by Emily McCain at WFTS in Tampa Bay, Florida. 1601

MIAMI — All of South Florida is now in the cone of concern for Hurricane Eta, which hammered Nicaragua on Tuesday.According to the 4 a.m. ET update from the National Hurricane Center, Eta is packing maximum sustained winds of 60 mph.The NHC said Eta will rapidly weaken as the storm moves farther inland over Nicaragua and Honduras.The forecasts project the storm will curve and emerge over the northwestern Caribbean Sea on Thursday night or Friday. Once it does, forecasters said it could re-strengthen into a tropical storm.By Sunday at 7 p.m., the center of Eta will be just south of Florida with maximum sustained winds of 60 mph.According to meteorologists for Scripps station WPTV in Palm Beach, Florida project that there will be a higher confidence on Friday for the potential impacts in South Florida."Computer models are in fairly good agreement, but the timing is different," said WPTV chief meteorologist Steve Weagle said. "Some are much faster, bringing the rainfall in on Friday. Others a lot slower, bringing it in on Saturday."At that point, Weagle said the forecast is calling for tropical storm conditions over the weekend with heavy rain and gusty winds.Weagle said rain bands will likely arrive later on Friday, loosely tied to Eta and a weak front over Cuba. Heavy rain squalls and possible tropical storm conditions are in the forecast for Saturday and Sunday."It'll likely be a very sloppy, disorganized weather system as it moves through," Weagle said. "Soggy weekend on the way."This story was originally published by Steve Weagle and Kahtia Hall on WPTV in Palm Beach, Florida. 1613