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Earnings day is not just about tallying sales and profits, but also when management rolls out the game plan for what’s next.
Yet McPhail said Home Depot, which reported strong fourth-quarter results Tuesday, has seen sales growth in nearly 80% of its U.S. geographic regions.
In the three-month period that ended May 4, Home Depot’s net income was $3.43 billion, or $3.45 per share, compared with $3.60 billion, or $3.63 per share, in the year-ago period.
Home Depot customers have continued to put off projects, even though they're in good financial shape, he said. About 90% of the company's do-it-yourself customers own their homes.
Home Depot’s comparable sales in the quarter dipped by 0.3 percent. However, in the U.S., they increased by 0.2 percent. February sales were low because of bad weather.
McPhail said more than half of the items The Home Depot sells are made in the U.S. However, tariffs could cause some of its items to be more expensive or eliminate some items altogether.
Home Depot's pricing strategy is at odds with Walmart, which said last week that it would have to raise prices as soon as late May to cover higher costs from tariffs. McPhail's comments came as ...
Home Depot 's quarterly sales rose more than 6% year over year, as it folded in a newly acquired business and hurricane-related repairs and better weather in many parts of the country boosted ...
Home Depot expects to open about 12 new stores this fiscal year, which ends in early February. Weather had a short-term benefit for Home Depot in the quarter, McPhail said.