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(Reuters) - Home Depot Inc said on Tuesday pandemic-related uncertainties made it difficult to predict if its sales dream run from last year will continue into 2021, even as its quarterly sales handily beat analysts’ estimates.
The home improvement chain’s shares fell 5%, despite a 24.5% jump in fourth-quarter comparable sales, above analysts’ estimates of an 18.9% increase.
Stuck-at-home Americans have been snapping up tools, paint and building materials all through the COVID-19 health crisis, but the roll out of vaccines and the hopes for a normal life have led many to believe that sales growth in 2021 will fade.
“Significant uncertainty remains with respect to the course of the pandemic, the distribution of vaccines and short-term fiscal policy. Given these uncertainties, we are limited in our ability to forecast demand for the year,” Home Depot Chief Financial Officer Richard McPhail said.
Home Depot sales jump 25%, consumer spending outlook unclear reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Kohl's Corp on Monday rejected a move by an investor group to nominate nine directors to revive the business of the troubled department store chain, calling it an attempt to "seize control" of its board.
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Taco Bell, a unit of Yum Brands Inc , said on Monday it would launch its own version of a chicken sandwich this year, becoming the latest fast food chain to take a bite out of a category that is soaring in popularity.
Taco Bell will compete against rivals including McDonald’s Corp and Restaurant Brands International Inc’s Burger King. The category was set alight in 2019 by a social media war between loyalists of chicken sandwiches from Chic-fil-A and Popeyes, another unit of Restaurant Brands.
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Kohl s activist investor group nominates nine directors to board reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.