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’

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Home Depot expected to see another quarter of soft earnings as potential rate cut comes into viewLower interest rates could provide a boost for Home Depot.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Key inflation data, Home Depot earnings: Yahoo FinanceWall Street is digesting key economic data this morning following the release of the latest Producer Price Index (PPI) and Core PPI. Economists had expected ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »