Home Depot snaps its losing streak
1 month ago

Home Depot snaps its losing streak

CNN  

New York CNN — Home Depot is growing again. America’s largest home improvement retailer said Tuesday that sales at stores open for at least a year grew 0.8% last quarter, snapping eight straight quarters of sales declines. “The fact that US comparable sales are back in the black after declining for eight quarters or two years is a very clear win for Home Depot,” said Neil Saunders, an analyst at GlobalData Retail. Home Depot’s business is closely tied to the housing market, and high interest rates have put a brake on housing turnover and consumers financing larger projects. In an interview with CNBC, Home Depot finance chief Richard McPhail said “housing is still frozen by mortgage rates.” But he said Home Depot saw broad growth last quarter, as sales increased in about half of its merchandise categories.

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Home Depot breaks same-store sales slump in fourth quarter with customer demand improving
Trending News
1 month ago

Home Depot breaks same-store sales slump in fourth quarter with customer demand improving

Associated Press  

Home Depot broke a two-year slump in same store sales during the fourth quarter as customer demand improved in a housing market that has been buffeted by soaring mortgage rates and a scarcity of homes up for sale. Home Depot Inc. said Tuesday that the extra week in the quarter added approximately $2.5 billion in sales for the period. “Throughout …

Walmart warns of a slower 2025. That’s a bad sign for America’s economy
1 month, 1 week ago

Walmart warns of a slower 2025. That’s a bad sign for America’s economy

CNN  

New York CNN — During America’s inflation crisis, shoppers have flooded to Walmart for groceries and clothing, looking for good deals on all manner of essentials. But Walmart said Thursday 2025 will be trickier as consumers grow increasingly frustrated with inflation and concerned about President Donald Trump’s tariffs. To be sure, Walmart’s business remains relatively strong and consumers are “resilient,” …

Home Depot’s Q3 results top Wall Street as pullback in consumer spending eases a bit
4 months, 2 weeks ago

Home Depot’s Q3 results top Wall Street as pullback in consumer spending eases a bit

Associated Press  

Home Depot continued to deal with a pullback in spending from customers in its fiscal third quarter, but it was less severe than in the past, and its performance beat Wall Street’s expectations. While this comes off the back of a decline in the prior year, it is the shallowest rate of decrease in two years and sends a positive …

Walmart’s business surges as shoppers hunt for low prices
10 months, 1 week ago

Walmart’s business surges as shoppers hunt for low prices

CNN  

New York CNN — Businesses from McDonald’s to Home Depot are struggling to attract financially strapped shoppers. Walmart said Thursday that sales at stores open at least a year increased 3.8% during its latest quarter from the same time last year. While low and middle-income shoppers have traditionally formed the core of Walmart’s customer base, Walmart also has grown with …

Home Depot’s sales continue to soften in 2024 as inflation, delayed start to spring weigh on sales
10 months, 1 week ago

Home Depot’s sales continue to soften in 2024 as inflation, delayed start to spring weigh on sales

Associated Press  

Home Depot’s sales continued to soften in the first quarter as the nation’s largest home improvement retailer was not only constrained by high mortgage rates and higher inflation for its customers, but it also had to deal with a delayed start to spring. Sales at store open at least a year, a key gauge of a retailer’s health, declined 2.8% …

Home Depot’s strong fourth quarter overshadowed by weakening sales and expectations for 2024
1 year, 1 month ago

Home Depot’s strong fourth quarter overshadowed by weakening sales and expectations for 2024

Associated Press  

Home Depot’s sales continued to fade during the fourth quarter as the country’s largest home improvement retailer feels the impact of high mortgage rates and inflation on its customers. “Over Home Depot’s final quarter, we estimate that home sales in the U.S. dropped by 7.2% over the prior year. For the three months ended Jan. 28, Home Depot Inc. earned …

Home Depot sales continue to slide but the biggest home improvement chain still tops expectations
1 year, 4 months ago

Home Depot sales continue to slide but the biggest home improvement chain still tops expectations

Associated Press  

Home Depot sales continue to slide as Americans wrestle with persistent inflation and the company narrowed its outlook for the year. It’s the first time that Home Depot has projected a decline in annual sales since 2009, when the U.S. economy was decimated by a massive housing bubble. The impact of inflation and monetary policy on a company like Home …

Home Depot tops expectations again, but signs of spending pullback by Americans continues to emerge
1 year, 7 months ago

Home Depot tops expectations again, but signs of spending pullback by Americans continues to emerge

Associated Press  

ATLANTA — Home Depot topped profit and sales expectations in its most recent quarter, but sales continued to decline as inflation and soaring interest rates play a larger role in the spending choices made by Americans. Despite the stronger-than-expected sales figures, Home Depot on Tuesday stuck to previous guidance for the year, seeing sales decline between 2% and 5%, after …

Home Depot sees first annual sales decline in more than a decade as housing streak ebbs, rates jump
1 year, 10 months ago

Home Depot sees first annual sales decline in more than a decade as housing streak ebbs, rates jump

Associated Press  

After years of explosive growth during the pandemic, Home Depot’s revenue during the first quarter fell short of expectations and the company cut its profit and sales outlook for the year, sending shares lower at the opening bell. Home Depot on Tuesday projected its first decline in annual revenue since 2009 in the aftermath of the bursting of the housing …

Home Depot’s strong quarter overshadowed by 2023 outlook
2 years, 1 month ago

Home Depot’s strong quarter overshadowed by 2023 outlook

Associated Press  

ATLANTA — The Home Depot posted strong profits in its final quarter of 2022 but said it expects profits to slip this year, sending shares of the home improvement retailer skidding at the opening bell Tuesday. Wall Street was also projecting a slight uptick in sales, but Home Depot said that would likely be flat. “After a year of defying …

Home Depot tops 3Q expectations again, but sticks by outlook
2 years, 4 months ago

Home Depot tops 3Q expectations again, but sticks by outlook

Associated Press  

ATLANTA — Home Depot easily topped expectations for both profit and revenue in the third quarter, but investors were spooked after the company stuck by projections it put out earlier this year. Shares of The Home Depot Inc. rose 1.2% in morning trading. But he said that Home Depot is “not immune to a tightening economy.” “We believe that various …

Home Depot posts record profit, revenue; sticks to outlook
2 years, 7 months ago

Home Depot posts record profit, revenue; sticks to outlook

Associated Press  

Home Depot is seeing sustained demand for goods related to home improvement projects despite soaring prices and mortgage rates for homes. “While inflation does not account for all the gains, it has flattered Home Depot’s numbers.” Saunders believes that it has been easier for Home Depot to pass along price increases to customers because the products on its stores shelves …

Retail sales rise 0.9% in April as consumers show resilience
2 years, 10 months ago

Retail sales rise 0.9% in April as consumers show resilience

Associated Press  

WASHINGTON — U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans’ ability to keep ramping up spending even as inflation persists at nearly a 40-year high. “Despite the surge in prices weighing on their purchasing power, the U.S. consumer now appears to be single-handedly keeping the global economy afloat.” The Tuesday report also showed that sales …

Home Depot overcomes slow start to year, rising home prices
2 years, 10 months ago

Home Depot overcomes slow start to year, rising home prices

Associated Press  

Home Depot’s first-quarter sales improved despite a slow spring start and the home improvement chain raised its full-year guidance. Home Depot earned $4.23 billion, or $4.09 per share, for the quarter, also topping analyst per-share projections of $3.67. Sales of previously occupied U.S. homes slowed in March to the slowest pace in nearly two years as a swift rise in …

Home Depot sales continue to surge in hot housing market
3 years, 4 months ago

Home Depot sales continue to surge in hot housing market

Associated Press  

Home Depot’s sales continued to climb through third quarter with the U.S. housing market red hot. Sales of previously occupied U.S. homes bounced back in September to their strongest pace since January as mortgage rates tick higher, motivating buyers to get off the sidelines. The National Association of Realtors said last month that existing homes sales rose 7% compared with …

Retail’s online future grows brighter after pandemic bump
4 years, 2 months ago

Retail’s online future grows brighter after pandemic bump

Associated Press  

Online shopping has been a lifeline for many as the virus pandemic shuttered stores and kept people at home. Traditional brick-and-mortar chains have gotten the message, ramping up their online sales as more and more people shop remotely rather than in stores. Walmart CEO C. Douglas McMillon said recently that upward trends for online sales accelerated by “two to three …

Another booming quarter for Walmart, but sales are slowing
4 years, 4 months ago

Another booming quarter for Walmart, but sales are slowing

Associated Press  

NEW YORK — Walmart turned out another stellar quarter as the world’s largest retailer powers through a pandemic that has felled other national chains. Sales at Walmart stores opened at least a year— a key barometer for a retailer’s health — rose 6.4%. “We think these new customer behaviors will largely persist, and we’re well positioned to serve customers.” McMillon …

Isolated Americans spend at home; Home Depot is there for it
4 years, 4 months ago

Isolated Americans spend at home; Home Depot is there for it

Associated Press  

As the year comes to a close Americans are still stuck at home and that has led to an explosive year for Home Depot. The Atlanta home improvement retailer earned $3.43 billion, or $3.18 per share, compared with $2.77 billion, or $2.53 per share, a year earlier. Home Depot Inc. also said Tuesday that it’s making temporary financial support programs …

Housing market is still going strong and propping up the economy
4 years, 7 months ago

Housing market is still going strong and propping up the economy

CNN  

New York CNN Business — The housing market continues to be a bright spot inthe United States economy that has been ravaged by coronavirus. “Homebuyer demand remains robust, inventories are tight, and there is a need for new units to keep the pace of sales going,” said Mike Fratantoni, chief economist of the Mortgage Bankers Association, in a report Tuesday. …

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