{"id":9717,"date":"2023-05-17T00:26:19","date_gmt":"2023-05-17T04:26:19","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/home-depot-cuts-guidance-amid-softening-demand\/"},"modified":"2023-05-17T00:26:19","modified_gmt":"2023-05-17T04:26:19","slug":"home-depot-cuts-guidance-amid-softening-demand","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9717","title":{"rendered":"Home Depot Cuts Guidance Amid Softening Demand"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"MW-BT-CO-20230516-703031\" role=\"document\">\n<p>By Dean Seal<\/p>\n<p>Home Depot has lowered its sales and earnings guidance for fiscal 2023 as consumer spending and demand in big-ticket categories continues to soften.<\/p>\n<p>The home-improvement chain said Tuesday that it now expects sales to decline between 2% and 5% this year, rather than stay flat as it had guided for in February.<\/p>\n<div class=\"paywall\">\n<p>Earnings are now projected to fall between 7% and 13%, compared with its prior outlook for a decline in the mid-single digits.<\/p>\n<p>The company is also guiding for its operating margin to be between 14% and 14.3%, compared with previous guidance for the rate to be about 14.5%.<\/p>\n<p>The downward revision came after Home Depot posted lower first-quarter sales than it had expected.<\/p>\n<p>&#8220;We saw a slightly higher degree of shift out of goods and into services, and particularly out of more discretionary spending like certain home-improvement categories, than we anticipated,&#8221; Chief Financial Officer Richard McPhail said in an interview.<\/p>\n<p>Shares slipped 3.8% to $277.50 in premarket trading.<\/p>\n<pre><\/pre>\n<p>Write to Dean Seal at dean.seal@wsj.com<\/p>\n<pre><\/pre>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/home-depot-cuts-guidance-amid-softening-demand-8efc68b3?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Dean Seal Home Depot has lowered its sales and earnings guidance for fiscal 2023 as consumer spending and demand in big-ticket categories continues to soften. The home-improvement chain said Tuesday that it now expects sales to decline between 2% and 5% this year, rather than stay flat as it had guided for in February. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-9717","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Home Depot Cuts Guidance Amid Softening Demand | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Dean Seal Home Depot has lowered its sales and earnings guidance for fiscal 2023 as consumer spending and demand in big-ticket categories continues to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=9717\" \/>\n<meta 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