Home Depot's CFO said homeowners are now deferring projects due to a 'sense of greater uncertainty in the economy.'
Home Depot's second-quarter earnings and sales beat expectations, but it said it expects comparable sales to decline this year.
The home improvement retailer said it now expects full-year comparable sales to decline by 3% to 4% compared to the prior fiscal year. It had previously expected comparable sales, a metric that takes out the impact of store openings and closures and other one-time factors, to decline about 1%.a company that sells supplies to professionals in the landscaping, roofing or pool businesses. Total sales are expected to increase between 2.5% and 3.
Here's what the company reported compared with what Wall Street expected for the three month period that ended July 28, based on a survey of analysts by LSEG:Home Depot kicks off a wave of retail earnings, as economists, investors and politicians pay close attention to the health of the American consumer and try to forecast the economic outlook, including the odds of a recession.
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