The Home Depot, Inc. (HD) is the world’s largest home improvement retailer with retail stores all across North America. The Home Depot sells building materials and home improvement products, as well as lawn and garden supplies, and provides installation, home maintenance, and professional service programs.
The Home Depot reported the slowest quarterly growth in at least the last three years due to cold weather and a sharp drop in lumber prices which has delayed the spring. IBES data from Refinitiv expected the same-store sales growth to increase by 4.2 percent however, an increase by 2.5 percent was recorded in the quarter ending May 5. The company’s net income advanced to $2.51 billion as compared to $2.4 billion from last year. Home Depot still managed to beat Wall Street’s estimates on the bottom-line
Home Depot also reaffirmed its guidance for fiscal 2019. It sees revenue growth of about 3.3 percent for 2019 that includes a 5 percent increase in comparable same-store sales. Management did warn that their guidance did not take into consideration any possible impact that tariffs on Chinese-made goods could have on their results.
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