Home Depot Stock Analysis: Q4 Sales Declines and 2024 Outlook Impact
Tuesday, 20 February 2024, 14:51
Home Depot Stock Analysis
Shares of Home Depot (HD) slide Tuesday morning after the home improvement retailer reported disappointing fourth-quarter results and 2024 sales guidance. Home Depot posted a 3.5% drop in global same-store sales alongside a 4% decline in US comparable sales year-over-year. Additionally, Home Depot cites slowing demand in its weaker than expected full-year outlook for 2024.
Key Points:
- Q4 Sales Performance: Global same-store sales down by 3.5%
- 2024 Outlook: Weak guidance due to slowing demand
- Market Impact: Analysts evaluating implications for investors
Editor's note: This article was written by Angel Smith
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.