Home Depot's latest financial results reveal major hesitation from shoppers. This remains a high-quality business that should do well over the long term.
Elevated mortgage rates and record-high home prices have pushed many would-be home buyers into wait-and-see mode. Now homeowners are playing the waiting game with renovation plans.
Former Home Depot CEO and Chairman Bob Nardelli said that the jobs report numbers will be "quietly adjusted" a few weeks or months after being released.
Home Depot stock is up quite a bit in just the past few months despite a string of so-so earnings reports, bouncing back from firm weakness earlier in the year. Shares are subsequently priced at an unusually high-earnings multiple as well.
Housing market conditions are likely to remain under pressure until interest rates start declining. The Home Depot is preparing itself for a recovery by investing to improve its position with professionals.
Retail sector earnings season is about more than the statistics and metrics of your favorite retail brand. It's a window into the evolving dynamics of consumer behavior and the economic forces shaping multiple industries.
Home Depot has seen its same-store sales decline for seven straight quarters and counting. Despite this, the stock has been resilient and risen since the end of 2022.
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