Home Depot reports another quarter of soft earnings as potential rate cut comes into view

) reported another quarter muted earnings as shoppers held off on major home improvement projects amid high interest rates and tighter wallets.

"The underlying long-term fundamentals supporting home improvement demand are strong," Home Depot CEO Ted Decker said in the release, adding "During the quarter, higher interest rates and greater macro-economic uncertainty pressured consumer demand more broadly, resulting in weaker spend across home improvement projects."

The company updated its fiscal 2024 guidance. It now expects total sales, including the 53rd week, to increase in the range of 2.5% to 3.5% year over year, up from the 1% previously expected. The company shared that the acquisition is expected to contribute nearly $6.4 billion dollars in incremental sales in fiscal 2024.Bowen Yang Reveals a Male ‘SNL’ Host ‘Made Multiple Cast Members Cry Because He Hated the Ideas’ at the Table Read: It Was ‘Terrible’

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