Home Depot's Q1 comparable sales fell 2.8% due to cautious consumer spending on big-ticket items amid higher borrowing costs and inflation.
Home Depot's Q1 comparable sales fell 2.8%, steeper than expected, due to cautious consumer spending on big-ticket items amid higher borrowing costs and inflation. Store visits declined, and the retailer cited "continued softness in certain larger discretionary projects" and a delayed start to spring for the decline. This marks the sixth straight quarter of negative sales for Home Depot.
May 13, 2024
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