Home Depot sharply reduced its earnings guidance for fiscal 2025 on Tuesday, citing disappointing demand in the third quarter and a broader slowdown in consumer spending on home improvement that the company had anticipated would accelerate heading into the fall and winter months.
The world’s largest home-improvement retailer now expects adjusted earnings per share to decline 5 percent from the prior year, down from its previous forecast of a 2 percent decline. The company also lowered its full-year comparable sales guidance to “slightly positive” from its prior forecast of 1 percent growth.
“While underlying demand in the business remained…
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