Home Depot reported a decline in earnings, reflecting a consumer pullback and a cooling construction market. The company experienced its sixth consecutive quarterly sales decline, with revenues falling 2% year-over-year and net income dropping 7%. Big ticket transactions over $1,000 were down 6.5%, indicating softer engagement in larger discretionary projects. Despite these challenges, Home Depot maintains its annual forecast, citing the delayed start of the spring selling season, stable pro backlogs, and the Easter shift. The company also noted a 30-year low in home sales volume, contributing to the weak Q1 sales.
Walmart lifts full-year sales and profit forecast, shares rally https://t.co/eKuuc7eWo7 https://t.co/k5PTnCz2Fj
Walmart earnings beat as discounter wins over more high-income shoppers, e-commerce sales jump https://t.co/ylPsjwWusd
Walmart shares surge to record high after earnings beat and outlook boost https://t.co/ErADoOKsjA
Walmart lifts fiscal 2025 sales, profit forecast as it bets on easing inflation to further boost demand https://t.co/SDBO7J4YZk
$WMT US: "Sales reflected strength in transaction counts and unit volumes; like-for-like inflation slightly positive" https://t.co/sXoXZZg2NO
Walmart forecasts sales, earnings to be at high end or slightly above target https://t.co/1N6IXpheGo
Futures rise after CPI-powered rally, Walmart $WMT to report - what's moving markets https://t.co/HITEVmzyP2 https://t.co/g0fsI2jsVs
Walmart will report earnings before the bell. Here's what to expect https://t.co/G1ZNuh8Ken
Analysts reboot Alibaba stock price target after earnings https://t.co/5jSYzhf4XE
Analysts retool Home Depot stock price targets after earnings https://t.co/QN7Wea8ncs
Foot traffic data reveals visits to Walmart are up 3.9% and Sam's Club up 6.1% year-over-year. Analysis of retail giants' earnings is currently underway. #RetailNews $COST $HD $LOW $TGT $WAL $WMT
Walmart’s Earnings Are a Bellwether for Consumer Spending. Tune in Thursday. https://t.co/umV2pzM0nw
🇺🇸 Home Depot sales fall in Q1 on soft housing market https://t.co/y0F5xky0ow
Walmart Q1 earnings preview: Wall Street expects positive momentum as consumers seek value https://t.co/jdLWsOUrbv by @BrookeDiPalma
.@HomeDepot misses on revenue, as high interest rates hurt sales $HD Q1 2024 earnings #retail https://t.co/o29vPxK7Is
Analyst reboots Palo Alto Network stock price target ahead of earnings https://t.co/DkXJSe7Iw2
Home Depot's net income fell 7% over the last year, a 5th straight quarter of negative YoY growth. That's the longest slide since 2008-09. $HD Video: https://t.co/1mpJfpQMtM https://t.co/gLUyIV55Wb
Two notes from the $HD earnings call: -they’re through the headwinds from everyone buying grills and lawn equipment during Covid. Signs of green shoots for demand in that stuff now. -stronger headwinds from low resale housing turnover and the financing of big renovation projects
Analysts update Walmart stock outlook before earnings https://t.co/FdxKHzncvv
I don’t know who needs to hear it Home Depot earnings show signs of a consumer pullback https://t.co/ssJhnd13WR
I chatted with AP News about this morning's results from Home Depot. A softer demand environment, dragged down by a weak housing market, continues to put pressure on sales... https://t.co/u9lKzaOkqh
Home Depot revenues fell 2% over the last year, the 5th straight quarter of negative YoY growth. That's the longest stretch of negative revenue growth since 2009-10. $HD Video: https://t.co/1mpJfpQeEe https://t.co/wNoUzahouc
Home Depot reported its sixth quarterly sales decline in a row amid a cooling construction market, 30 year low in home sales volume #MacroEdge
For all the talk of weakness in big ticket, lower mortgage affordability etc, Depot says maintaining guide despite soft Q1 sales because Spring didn't come & always comes & never impacts their annual forecast/budget. $HD $LOW $XLY https://t.co/uOJTS5MGyo
🇺🇸 Home Depot's sales miss estimates as spring selling season sees delayed start https://t.co/KrPHM4t5fR
$HD "Big ticket comp transactions (those >$1K) were down 6.5% Y/Y. We continue to see softer engagement in larger discretionary projects where customers typically use financing to fund the project, such as kitchen and bath remodels"
March was best month of Depot Q probably on Easter shift, with Feb weakest. $HD says where weather was favorable, trends were better but still seeing weakness in big ticket with $1000+ transactions down 6% vs -7% in Q4. Pro backlogs stable. $LOW $XLY
YoY visits to @HomeDepot were down just 0.3% in February 2024 and up 1.0% in March. Though Home Depot saw a minor visit gap emerge once again in April, the home improvement powerhouse appears to be on solid footing heading into the spring season. $HD #earnings #fintwit
Home Depot earnings show signs of a consumer pullback https://t.co/i4juKHYIPg by @BrookeDiPalma