Home Depot provided a preliminary fiscal year 2020 outlook
which outlines total sales growth of approx. 3.5-4%. Based on data
from CNBC, analysts were expecting sales growth of 4.3%. Comparable sales
growth is expected to be approx. 3.5-4%.
The retailer also touched upon its One Home Depot strategy which
includes investments in store enhancements, new e-commerce solutions, and
delivery options. The company said it was building on its distinct competitive
advantages to capitalize on a large and fragmented market opportunity and
expand its leadership position for years to come.
For its most recent quarter, Home Depot reported better-than-expected earnings but missed revenue estimates. Net sales rose 3.5% to $27.2 billion while EPS grew 0.8% to $2.53. Comparable sales rose 3.6%.