Reported 2 months ago
Home Depot is projecting a significant decline in sales, citing a 3.3% drop in comparable sales from the previous quarter, alongside broader consumer hesitance influenced by high inflation and interest rates. CEO Ted Decker indicates that while current economic conditions are challenging consumer spending on home improvement, the fundamental demand for such improvements remains strong. The company expects store sales to decrease by 3% to 4% this fiscal year, indicating a shift in consumer priorities and spending habits.
Source: YAHOO