Shares of The Home Depot (NYSE: HD) remained down 1.8% in morning hours on Wednesday after the company provided a preliminary outlook for fiscal year 2020 that was lower than what analysts had predicted.
The company reaffirmed its guidance for fiscal year 2019 and continues to expect total sales growth of approx. 1.8% and comparable sales growth of approx. 3.5%. Diluted EPS is expected to grow around 3.1% to $10.03.
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%.
Bringing fresh optimism to the virus-hit market, U.S jobless claims for the week ended October 17 slipped to the lowest level since the onset of the pandemic, in a sign
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 2% in afternoon hours on Friday. The stock has gained 35% over the past three months. The company reported better-than-expected
The biggest stimulus package of all time, which was meant to boost consumption has actually led to more deposits, inflating the size of banks’ balance sheets. A working paper shows