00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Home Depot reported a roughly 4% quarterly sales decline as a sluggish real estate market
00:07and selective homeowner spending weighed on demand, according to CNBC.
00:12The home improvement retailer reported adjusted earnings of $2.72 per share on $38.20 billion
00:19in revenue, exceeding expectations of $2.54 per share and $38.12 billion.
00:26Home Depot expects full-year total sales growth of 2.5% to 4.5%, adjusted earnings per share
00:34between flat and up 4% from $14.69, and comparable sales growth ranging from flat to up 2%.
00:42CFO Richard McPhail told CNBC that U.S. consumers and the company have been in a frozen housing
00:48environment for three years with no meaningful thaw.
00:51He said rising consumer uncertainty, declining confidence, and concerns about housing affordability
00:56and job losses are shaping Home Depot's outlook for the year.
00:59For all things money, visit Benzinga.com.
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