Home Depot's Earnings Beat Expectations Amid Cautious Consumer Spending
Originally Published 1 year ago — by CNBC
Home Depot reported a 6% year-over-year increase in quarterly sales, driven by a new acquisition and demand for hurricane-related repairs and home improvement supplies. The company raised its full-year sales outlook to a 4% increase, factoring in the acquisition of SRS Distribution. Despite the positive results, Home Depot noted that consumers remain cautious about spending due to high interest rates and economic uncertainty, leading to deferred home projects. The company's stock has risen 18% this year, and it continues to focus on professional customers and new store openings to drive growth.