Home Depot's Sales to Decline in Fiscal Q3 as Customers Scale Back on Home Projects
  • 5 months ago
Home Depot sales declined in its fiscal third-quarter, with comparable sales declining 3.1% as customers scaled back on larger projects and purchases of big-ticket items amid high inflation and rising interest rates. Earnings per share were $3.81 versus the $3.76 expected, and revenue was $37.71 billion versus the $37.6 billion expected. The company offered a cautious outlook, guiding that it expects full-year sales to decline 3-4% and earnings per share to drop 9-11%. Home Depot shares have fallen around 9% year-to-date as it has missed sales targets in recent quarters, reflecting challenges in the current economic environment.