Home-Improvement Outlook Strengthening, but not Out of the Woods Yet
Dow Jones
Aug 18
0836 ET - Home Depot's 2Q comparable sales climbed 1.7% in total and 1.3% in the U.S., both better than last quarter and the best comps in several years, according to D.A. Davidson in a note. "That does not mean that we are out of the woods yet with respect to home-related spending, particularly as rates continue to move back up," analysts Michael Baker and Keegan Cox warn. "But it does show that the worst of the cycle downtrend is likely behind us," they add. Home Depot is benefiting from tariff refunds, which likely contributed to an EPS beat, and presumably gave the company confidence to reaffirm its outlook for the year despite unplanned higher input costs, the analysts say. Home Depot is up 2% premarket.
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