Home Depot 2024 Full-Year Forecast Falls Short of Analyst Expectations

Home Depot, a major U.S. home improvement center, announced its full-year forecast for 2024 on the 20th, which was lower than analysts expected. Photographed in March 2015 (2024 Reuters/Lucy Nicholson)

[２０日 ロイター] – U.S. home improvement retailer Home Depot (HD.N), opens new tab, announced on the 20th its full-year forecast for 2024, which was lower than analysts’ expectations. Demand will continue to be weak as consumers cut back on spending on home renovations as inflation continues.

In the fourth quarter results announced at the same time, sales fell more than expected and the stock price fell 2%.

Same-store sales are expected to decline by about 1% in 2024. Market expectations were for an increase of 0.06%.

Customer transactions fell 1.7% in the fourth quarter. This was the 11th consecutive quarterly decline. As a result, same-store sales declined by 3.5%, which was a worse-than-expected decline.

Reuters Graphics

Earnings per share in 2024 are expected to increase by approximately 1%. The market expectation was for an increase of 3.62% to $15.61.

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Granth reports on the North American Consumer and Retail sector, covering a broad range of companies from consumer packaged goods and restaurants to department stores and apparel retailers. Granth’s work on the website usually appears on the Retail & Consumer page of Reuters Business section. He holds a post-graduate degree in international relations and area studies and has previously worked as a research analyst.

2024-02-20 22:53:59
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