Home Depot Warns Of Price Changes From Tariffs
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Lowe’s stock gains after it beat earnings expectations a day after Home Depot missed. Lowe’s also announced it was buying a bigger building-products company than its rival did in June.
Home Depot (HD) reported second quarter results that missed on revenue, earnings, and same-store sales growth. Yet shares are rising in pre-market trading on hopes that consumers focusing on small home improvement projects could benefit the retailer.
Home Depot kept its annual forecasts intact despite posting muted quarterly results on Tuesday, but said some products may see small price hikes due to tariffs after previously suggesting they would generally not change.
Home Depot said tariffs will soon start hitting some price tags even as consumers continue to hold off on larger projects because of higher interest rates and economic uncertainty.
Home Depot’s sales improved during its fiscal second quarter as consumers remained focused on smaller projects amid cost concerns and economic uncertainty, but its performance missed Wall Street’s expectations.
In Q1, Home Depot experienced solid demand for smaller projects and seasonal activities; however, high interest rates deterred many consumers
Home Depot's Q2 earnings fell slightly short of Wall Street's target, but the company announced some news that has potentially huge implications.
The company's full-year forecast assumes no substantial change in the number of consumers revamping their homes.
The home-improvement chain is now one of the companies most caught up in Trump's immigration crackdown. The retailer's history with day laborers is long. So far, it's choosing to keep its distance.
Home Depot customers are putting their kitchen remodels and bathroom upgrades on hold as they turn instead to smaller projects that can be funded in cash, like painting and yard improvements, said Home Depot execs.
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