Merlier wins crash-marred 12th stage of the Tour de France, Pogacar retains overall lead

CHALON-SUR-SAONE, France (AP) — Belgian rider Tim Merlier earned another stage win at the Tour de France while several riders fell as they sprinted to the line Thursday.

Defending champion Tadej Pogacar avoided the crash and kept his significant overall lead over second-place Jonas Vingegaard after 12 stages.

It was Merlier’s third stage win on this year’s Tour and sixth of his career. Dutch rider Olav Kooij finished second and Jasper Philipsen of Belgium was third.

With riders fighting for position on the home straight, Colombian Fernando Gaviria went down after clipping the wheel of another cyclist and fell to his left, bringing Norwegian rider Soeren Waerenskjold — Wednesday's stage winner — down with him. Just behind them, four other riders had no room to swerve around them and flew over their handlebars.

None of the riders appeared seriously injured and Gaviria eventually crossed the line with the help of a teammate.

Later Thursday, the Caja Rural-Seguros RGA team said the 31-year-old Gaviria sustained a fractured left collarbone and had pulled out of the race.

“There was a lot of chaos and a mix of teams at the front of the peloton,” teammate Stefano Oldani said, describing the crash. "I saw him lying on the road next to two Lotto (team) riders and I realized straight away that he’d taken a nasty hit.”

Four-time Tour champion Pogacar remains 3 minutes, 36 seconds ahead of two-time champion Vingegaard and 4:06 ahead of Remco Evenepoel in third place.

Pogacar had extended his overall lead Tuesday after another trademark attack in the 10th stage.

Stage 12 was a mostly flat 179-kilometer (111-mile) route starting from the Magny-Cours track, which once hosted Formula 1 races, and ending in Chalon-sur-Saône in eastern France.

Frenchman Baptiste Veistroffer forged ahead on his own until he was caught by a group of 14 riders heading into the last 30 kilometers. They were caught by the hard-chasing peloton soon after, and just before the third of three minor climbs.

With teams looking to place their sprinters into the best position to attack it was a nervy approach to the finish line.

Philipsen's Alpecin-Premier Tech team put three riders at the front to help him but they attacked too soon, as they did in previous stages, and Philipsen is still looking for his first victory at this year's race.

Merlier said having his wife and young son at the race “gave me a lot of motivation.”

"Winning for them is special,” Merlier said. “I managed to find the opening, I had to stay calm and wait. It was a finale and a finish that suited me very well.”

Friday's 13th stage is the longest of this year's race at 206 kilometers and features a sharp Category 1 climb — the second-hardest category in the Tour — toward the end.

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Riders sprint to the finish line of the twelfth stage of the Tour de France cycling race with start in Circuit Nevers Magny-Cours and finish in Chalon-sur-Saone, France, Thursday, July 16, 2026. (AP Photo/Mosa'ab Elshamy)

Slovenia's Tadej Pogacar, wearing the overall leader's yellow jersey crosses the finish line of the twelfth stage of the Tour de France cycling race with start in Circuit Nevers Magny-Cours and finish in Chalon-sur-Saone, France, Thursday, July 16, 2026. (AP Photo/Mosa'ab Elshamy)

Riders sprint to the finish line of the twelfth stage of the Tour de France cycling race with start in Circuit Nevers Magny-Cours and finish in Chalon-sur-Saone, France, Thursday, July 16, 2026. (AP Photo/Mosa'ab Elshamy)

Belgium's Tim Merlier celebrates as he crosses the finish line to win the twelfth stage of the Tour de France cycling race with start in Circuit Nevers Magny-Cours and finish in Chalon-sur-Saone, France, Thursday, July 16, 2026. (AP Photo/Mosa'ab Elshamy)

Belgium's Tim Merlier celebrates as he crosses the finish line to win the twelfth stage of the Tour de France cycling race with start in Circuit Nevers Magny-Cours and finish in Chalon-sur-Saone, France, Thursday, July 16, 2026. (AP Photo/Mosa'ab Elshamy)

Home Depot’s sales improved during its second quarter as customers focused on smaller projects during the summer months with the U.S. housing sector still mired in a slump.

Revenue increased to $47.86 billion from $45.28 billion, edging out the $47.24 billion that Wall Street had expected, according to a survey by FactSet.

Globally, sales at stores open at least a year, a key indicator of a retailer’s health, climbed 1.7%. In the U.S., comparable store sales rose 1.3%.

“We saw broad based demand across the business as customers continued to engage in smaller projects,” Chief Financial Officer Richard McPhail said in prepared remarks Tuesday.

Customer transactions slipped 1% in the quarter, but the amount shoppers spent rose to $92.50 per average receipt from $90.01 a year earlier.

Healthy spending on smaller projects during the quarter is encouraging, said Neil Saunders, managing director of GlobalData.

“From our data, the number of smaller projects undertaken during the quarter increased by 1.5% over the prior year,” Saunders said in an email. “This may sound unimpressive, but it represents a step change from the declines of previous periods."

But Saunders also pointed out a potential weakness that is impacting almost all businesses where credit is sometimes required.

“The number of bigger-ticket projects undertaken remains down, falling by 2.1% over last year,” he said. "Concerns around financing and a previous lack of moving activity both remain major drags on the bigger-ticket segment.”

Homeowners that are currently considering taking out loans using home equity are realizing that it is considerably more expensive now compared with the ultra-low rates Americans could count on in the early 2020s. A home project that seemed within reach at a 4% to 5% borrowing rate looks a lot more daunting at 8% or higher.

While the average long-term U.S. mortgage rate fell slightly for the first time in six weeks, it is still up from last year and borrowing costs remain steeper than they were a year ago.

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.

Sales of previously occupied U.S. homes slowed again in July as record prices and the highest mortgage rates in a year prove to be an insurmountable hurdle for many prospective buyers. Existing home sales fell 1.7% last month from June, the National Association of Realtors said last week.

Home prices continue to rise and hit unprecedented levels for the month of July, NAR said. The U.S. median sales price increased 2% from a year earlier, to $434,100.

For the three months ended Aug. 2, Home Depot earned $4.77 billion, or $4.79 per share. A year earlier the home improvement retailer earned $4.55 billion, or $4.58 per share.

Excluding one-time items, earnings were $4.92 per share. That’s much better than the $4.73 per share that Wall Street predicted.

McPhail, along with Ann-Marie Campbell, senior executive vice president, are overseeing operations while CEO Ted Decker takes a temporary medical leave of absence. The company said last week that it expects Decker to return within the next few months.

Home Depot also announced Tuesday that it is launching express delivery nationwide. The service will get orders to customers within three hours or less. It will be available for a small flat fee in the U.S., with no subscription or membership required.

The Atlanta company has posted solid back-to-back quarterly performances this year though many Americans have struggled to buy a home. Despite the solid performance, Home Depot stuck with its earlier sales growth guidance for fiscal 2026 of between 2.5% and 4.5%. It also left unchanged its expectations that comparable sales will be flat to up 2%.

Home Depot said that its outlook includes tariff refunds, which are expected to partially offset higher fuel, energy, and other product input costs throughout the year. Last year, the company said that it didn't expect to raise prices because of tariffs, but executive Billy Bastek said at the time that some products that were on Home Depot shelves may disappear.

The company's stock gained slightly in early morning trading.

FILE - Exterior view of a Home Depot in Uniontown, Pa., on Friday, June 5, 2026. (AP Photo/Gene J. Puskar, File)