Home Depot sales continue to slide but the biggest home improvement chain still tops expectations
Home Depot sales continue to slide as Americans wrestle with persistent inflation and the company narrowed its outlook for the year. But the nation’s biggest home improvement retailer still topped expectations for the quarter and shares jumped more than 5% Tuesday.
Home Depot now expects earnings per share to decline between 9% and 11% in 2023 and same store sales to fall 3% to 4%. The company previously anticipated an earnings per share drop between 7% and 13% and a same-store sales decline of 2% to 5%.
It’s the first time that Home Depot has projected a decline in annual…