Home Depot Lowers Sales Forecast Amid Economic Uncertainty

High interest rates and consumer caution lead to weaker demand for home improvement projects.

Home Depot reports a 3.3% decline in comparable sales for Q2, missing expectations.
The company adjusts its full-year sales forecast to a 3-4% decline, down from a 1% drop previously.
Consumers are deferring big projects due to high financing costs and economic uncertainty.
Foot traffic and average ticket size both decreased, reflecting cautious consumer behavior.
Potential interest rate cuts in September may help improve future sales.