Home Depot Stock Drops as Comparable Sales Guidance Lowered
Home Depot(HD) Investopedia·2024-08-13 20:30
Key TakeawaysHome Depot shares dropped Tuesday despite a second-quarter earnings beat as the home-improvement giant lowered its 2024 comparable sales guidance.Home Depot now sees full-year comparable sales down 3% to 4% from fiscal 2023, worse than its previous guidance of a 1% decline.CEO Ted Decker said consumers continue to be pressured by higher interest rates and "greater macro-economic uncertainty." Home Depot (HD) shares fell despite an earnings beat Tuesday as the retailer projected a larger fiscal ...