Home Depot: Q2 above estimates, but forecast cut
(CercleFinance.com) - On Tuesday Home Depot, the leading DIY store in the US, reduced its FY sales forecast, despite better than expected Q2 results.
The Atlanta-based group now expects to see FY net sales to rise by about 2.3% (vs. 3.3% previously), with and sales at constant stores up around 4% (vs. 5% previously).
New forecasts takes into account the recent collapse of wood prices and the introduction of higher customs tariffs in the United States, the group said in a statement.
Q2 sales increased by 3% at constant stores.
However, net profit for the three months ended August, slipped to 3.48 billion dollars, or 3.17 dollars per share, against 3.51 billion dollars or 3.05 dollars per share, a year earlier.
On average analysts were expecting EPS of 3.08 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Atlanta-based group now expects to see FY net sales to rise by about 2.3% (vs. 3.3% previously), with and sales at constant stores up around 4% (vs. 5% previously).
New forecasts takes into account the recent collapse of wood prices and the introduction of higher customs tariffs in the United States, the group said in a statement.
Q2 sales increased by 3% at constant stores.
However, net profit for the three months ended August, slipped to 3.48 billion dollars, or 3.17 dollars per share, against 3.51 billion dollars or 3.05 dollars per share, a year earlier.
On average analysts were expecting EPS of 3.08 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.