Lowe, Home Depot
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Home Depot Warns Of Price Changes From Tariffs
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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 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 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.
In Q1, Home Depot experienced solid demand for smaller projects and seasonal activities; however, high interest rates deterred many consumers
Home Depot’s sales improved during its fiscal second quarter as consumers remained focused on smaller projects amid cost concerns, but its performance missed Wall Street’s expectations
The Republican Party of Florida removed deportation-themed shirts, hats and other merchandise from its website that featured a logo similar to Home Depot's after the retailer raised objections.
The company's full-year forecast assumes no substantial change in the number of consumers revamping their homes.
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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