Home Depot Warns Of Price Changes From Tariffs
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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.
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.
Home Depot's Q2 earnings fell slightly short of Wall Street's target, but the company announced some news that has potentially huge implications.
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 customers are putting their big home-improvement projects on hold as worries about the economy and interest rates have them sticking to smaller projects. While people may be painting again and working on their yards, they aren’t pulling the trigger on larger improvements, said Home Depot CEO Ted Decker during Tuesday’s earnings call.
Home Depot (NYSE:HD) said the Dept. of Justice granted early termination of the waiting period of the HSR Act for its planned $5.5 billion purchase of GMS Inc. (NYSE:GMS). The tender offer is set to expire on Friday, according to a statement on Thursday.
Several big-box U.S. retailers are set to report second-quarter earnings this week, offering a glimpse into the spending habits of U.S. consumers and the continued impact of President Trump’s trade war.