Retail News

Home Depot cuts sales outlook due in part to trade war concerns

CNBC 08/20/2019

Home Depot today reported earnings per share, revenue and same-store sales numbers that were all lower than expected by analysts for its most recent quarter. The company lowered its 2019 sales projection to about a 2.3 percent rise vs. its previously stated outlook of a 3.3 percent increase. “Today we are updating our sales guidance to account primarily for continued lumber price deflation,” said CEO Craig Menear, “as well as potential impacts to the U.S. consumer arising from recently announced tariffs.”

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