“Home Depot posts worst revenue miss in about 20 years, lowers forecast as consumers delay big projects”
May 16, 2023
“Home Depot on Tuesday reported its biggest revenue miss in more than 20 years and lowered its forecast for this year, as consumers delay large projects and buy fewer big-ticket items like patio sets and grills…
Home Depot said it now expects sales and comparable sales to decline between 2% and 5% for the fiscal year. It had previously predicted roughly flat sales for the period. Its operating margin rate is also expected to come in lower for the year, in a range of between 14% and 14.3% compared with a previously expected 14.5%, including the effect of a $1 billion investment in employee wages…”
https://www.cnbc.com/2023/05/16/home-depot-hd-earnings-q1-2023.html