Home Depot surpasses expectations despite declining sales and earnings

Home Depot reported Q3 earnings that beat estimates, with sales down 3.10% YoY but higher than expected. Foot traffic dropped 2.4%, and the average ticket decreased less than expected. The company attributed the decline in earnings to customers opting for smaller projects and pressure in certain big-ticket categories. Home Depot's shares rose 1% in pre-market trading. For the full fiscal year, the company narrowed its guidance range, expecting a sales drop of 3% to 4% and adjusted earnings per share to decrease 9% to 11% YoY.