Home Depot Beats Earnings Estimates But Warns Of Full-Year Sales Decline as Consumers Embrace a 'Deferral Mindset'

  • 11 days ago
Home Depot reported second-quarter earnings and sales that beat Wall Street expectations. Still, it said it expects comparable sales to decline for the full fiscal year due to economic uncertainty dampening consumer demand. The CFO cited consumers having a "deferral mindset" since mid-2023 due to high rates, as well as a new "sense of greater uncertainty in the economy," dampening project spending. Second-quarter sales fell as the company saw slower demand for lighting, flooring, and other project items. Home Depot shares fell over 4% on the guidance cut, but the company emphasized homeowners' long-term need for renovations and its financially stable customer base.

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