Home Depot Surpasses Expectations with 6.6% Sales Increase
Despite economic challenges, Home Depot raises its full-year revenue forecast amid improved consumer spending.
- Home Depot's Q3 sales hit $40.22 billion, exceeding Wall Street's forecast of $39.31 billion.
- The company adjusted its full-year revenue outlook to a 4% increase, up from a previous projection of 2.5% to 3.5%.
- Factors such as hurricane repairs, better weather, and the acquisition of SRS Distribution contributed to sales growth.
- Comparable sales declined by 1.3%, marking the smallest drop in eight consecutive quarters of decline.
- Home Depot is navigating economic pressures, including higher interest rates and potential tariffs on imported goods.
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