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Home Depot's sales continued to soften in the first quarter as the nation's largest home improvement retailer was not only constrained by high mortgage rates and higher inflation for its customers ...
Sales at store open at least a year, a key gauge of a retailer's health, declined 2.8% globally, and 3.2% in the U.S. Last week the average rate on a 30-year mortgage fell for the first time in a month, a slight relief for home shoppers already facing the challenges of rising housing prices and a shortage of homes for sale.
Home Depot now expects an earnings per share to decline between 9% and 11% in 2023 and same store sales to fall 3% to 4%. The company previously anticipated an earnings per share drop between 7% ...
For fiscal 2024, Home Depot expects its total sales to improve 1% -- but a lot of that growth will be driven by its 12 new store openings and an extra week of sales.
Walmart, the nation's largest retailer, is slated to report its results on Thursday with other retailers like Macy's and Target expected to release quarterly data next week. Home Depot, the nation’s largest home improvement retailer, said Tuesday that sales declined for the third consecutive quarter to start 2024 as homeowners and prospective ...
US shoppers under pressure are expected to spend less at Home Depot, but the home improvement retailer may make up some of the loss with professional consumers.
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