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Home Depot Q1 earnings preview: Pro customers expected to offset fewer DIY shoppers

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Earnings Per Share,Joe Feldman

US shoppers under pressure is expected to spend less at Home Depot, but it may make up some of the loss with professional consumers.

Wall Street expects another quarter of subdued results, as consumers seek out fewer DIY projects compared to during the pandemic. However, more spending by pro customer may offset some of that loss.

"Home Depot faces tough comparisons from the past four years fueled by higher home values and home-related spending during the pandemic," Telsey Advisory Group managing director Joe Feldman wrote in a note to clients.Consumers are also "strained" by inflation, interest rates, and a "slow housing market," Feldman wrote.

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