After explosive growth during the pandemic, Home Depot's revenue during the first quarter fell short of expectations and the company cut its profit and sales outlook for the year.
NEW YORK — After years of explosive growth during the pandemic, Home Depot's revenue during the first quarter fell short of expectations and the company cut its profit and sales outlook for the year, sending shares skidding before the opening bell Tuesday.
Sales at stores open at least a year, a key indicator of a retailer's health, dropped 4.5%, and it dropped 4.6% for stores in the U.S. But the Atlanta company cut its expectations for the year with as shift in spending becomes more clear with the economy slowing and costs rising for builders and homeowners.10 consecutive times with hopes of slowing the economy and cooling inflation.
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