CFO Richard McPhail said Home Depot continues to see the effects of a "deferral mindset" from homeowners, which began in roughly mid-2023.
In this article
Home Depot
stuck by its full-year outlook on Tuesday, even as the company came in slightly shy of Wall Street’s expectations for quarterly earnings and revenue.
The home improvement retailer reiterated that it expects full-year total sales to grow by 2.8% and comparable sales, which take out the impact of one-time factors like store openings and calendar differences, to rise about 1%.
However, it missed Wall Street’s earnings expectations for the second straight quarter.
Home Depot beat fourth-quarter earnings expectations after missing estimates the prior three quarters.
Home Depot has tried to attract more business from contractors, roofers and other professionals during a slower housing market.
The home improvement retailer also reaffirmed its annual forecast, a day after rival Home Depot did the same. Atlanta-based Home…
The company is operating in a part of the retail sector that is under outsized pressure from stubbornly high interest rates. That…
The U.S. housing market is currently experiencing historic stagnation.
The home improvement chain beat low expectations as tariffs remain a top concern.
