From CNBC: 2024-05-14 06:02:35

Home Depot reported quarterly revenue below expectations due to shoppers delaying major projects like bath and kitchen remodels amidst higher interest rates. The retailer reaffirmed its full-year guidance, expecting total sales to grow about 1% in fiscal 2024. Net income for the first quarter dropped to $3.6 billion, with revenue at $36.42 billion. Comparable sales declined by 2.8% overall and 3.2% in the U.S. Home Depot’s sales fell to $152.7 billion in the fiscal year ending January 2023, a 3% drop. The company is focusing on attracting professionals, making acquisitions, and opening new stores to drive growth and sales.



Read more at CNBC:: Home Depot (HD) Q1 2024 earnings