A cart full of items at a Home Depot store on November 14, 2023 in Miami, Florida.
Joe Raedle | Getty Images
Even as Home Depot forecast sales declines, the retailer had good news for investors and consumers on Tuesday.
“I think the most important observation we’ve made is that the worst of the inflationary environment is behind us,” Chief Financial Officer Richard McPhail said on an earnings call.
Shares of the retailer rose by more than 5% after the company beat quarterly earnings expectations, driving a rally for the Dow Jones Industrial Average. Home Depot’s comments also came as government data on Tuesday morning showed that inflation was flat in October from the prior month.
Home Depot kicked off a much-anticipated week of retail earnings that includes other household names, such as Walmart, Target and Macy’s. All of the retailers have struggled with consumers who have become more selective about spending, particularly on pricier and discretionary items, as they pay more for…
2023-11-14 16:09:34
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