Page 35 - Ted Decker News Today

Home Depot has seen its revenue fall to $37.3billion in the first quarter of this year- down nearly $2billion from January- as Americans cool their spending on home projects.

Home Depot missed revenue expectations by the most in two decades.

Sales at stores open at least a year, a key indicator of a retailer’s health, dropped 4.5%.

Home Depot sales slide, Elon Musk and Tesla's annual meeting, debt ceiling talks and Buffett buys Capital One shares, sells others banks. OpenAI CEO on Capitol Hill. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.

New York (CNN) — Home Depot couldn’t keep its protracted robust sales streak going any longer. The home improvement chain reported a dismal quarter as consumer spending on home improvement

Home Depot's revenue missed expectations Tuesday. However, the home improvement retailer noted that fiscal 2023 was going to be a year of moderation after years of unprecedented growth.

The last time the company projected a decline in revenue was in 2009 in the aftermath of the bursting of the housing bubble and financial crisis

"Our sales for the quarter were below our expectations primarily driven by lumber deflation and unfavorable weather," said CEO Ted Decker.

HD earnings call for the period ending March 31, 2023.

Home Depot said framing lumber prices fell by 64% over the past year in the first quarter, leading sales to miss Wall Street's expectations.