Home Depot: annual targets revised downwards

(CercleFinance.com) - On the occasion of its quarterly publication, Home Depot announces a downward revision of its annual targets, 'to reflect the performance of the first half of fiscal 2024 and to include SRS (whose acquisition was finalized last June)'.


As a result, the US leader in home improvement now anticipates total sales growth of between 2.5% and 3.5%, but with a decrease of 3% to 4% on a comparable basis, and an adjusted operating margin of 13.8% to 13.9%.

In its second accounting quarter, Home Depot posted net income of $4.6 billion, down 1% on EPS of $4.60, on sales of $43.2 billion, up 0.6% (-3.3% on comparable sales).

"Rising interest rates and heightened macroeconomic uncertainty have put broader pressure on consumer demand, resulting in lower spending on home improvement projects", explains CEO Ted Decker.

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