Home Depot: reduces annual targets
(CercleFinance.com) - On its quarterly earnings call, Home Depot said it now expects its FY 2023 EPS to fall by 7% to 13%, with an operating margin of 14% and 14.
3%, with it forecasting sales to fall by 2% to 5%.
The home improvement chain cited a slowdown in demand relative to its expectations, coupled with continued uncertainty about consumer demand as reasons for the reductions relative to its previous guidance.
Home Depot's Q1 EPS fell 6.6% to $3.82 on sales that are down 4.2% to $37.3bn, with sales below its expectations due mainly to deflation in wood prices and adverse weather conditions.
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3%, with it forecasting sales to fall by 2% to 5%.
The home improvement chain cited a slowdown in demand relative to its expectations, coupled with continued uncertainty about consumer demand as reasons for the reductions relative to its previous guidance.
Home Depot's Q1 EPS fell 6.6% to $3.82 on sales that are down 4.2% to $37.3bn, with sales below its expectations due mainly to deflation in wood prices and adverse weather conditions.
Copyright (c) 2023 CercleFinance.com. All rights reserved.