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Home Depot slides as lack of future profit guidance outweighs earnings beat
12 days ago - By Business Insider
Summary List Placement Shares of Home Depot slipped as much as 6% on Tuesday as the largest home improvement retailer in the country declined to provide profit guidance for 2021, citing the unpredictability of how the coronavirus pandemic will affect its sales.
The company reported fourth-quarter earnings that topped estimates as demand for home improvement products boomed during the pandemic. However, as the US approaches one year under pandemic conditions, Home Depot acknowledged that future demand would be difficult to predict.
"As we look ahead to fiscal 2021, while we are not able to...
Read more ...Home Depot slides as lack of future profit guidance outweighs earnings beat
12 days ago - By Business Insider
Nicholas Kamm/AFP via Getty Images
Shares of Home Depot declined by over 6% on Tuesday as the company opted not to provide profit guidance for 2021.
The company reported earnings that grew 16% to $2.65 per share, higher than analysts' expectations.
Revenue, meanwhile, jumped 25% to $32.26 billion, also higher than the $30.7 billion that analysts expected.
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Shares of Home Depot slipped as much as 6% on Tuesday as the largest home improvement retailer in the country declined to provide profit guidance for 2021, citing...
Read more ...In year of pandemic, Home Depot became supplier to millions
12 days ago - By Stl Today
The housing market was among the very few bright spots for the U.S. economy in the year of the lockdown and Home Depot became its supplier, racking up an unprecedented $132 billion in sales for 2020.
Read more ...Macy's holiday sales dropped, but beat Wall Street estimates, as stimulus checks and strong online demand cushioned the blow of the pandemic
12 days ago - By Business Insider
Peopple waiting for Macy's store to open.
AP Photo/David Zalubowski
US retail store Macy's posted on Tuesday better-than-expected sales in the holiday quarter.
Net sales fell to $6.78 billion, but this beat estimates of $6.50 billion.
Macy's is betting on vaccine rollouts allowing customers to return to its department stores after pandemic curbs.
Visit the Business section of Insider for more stories .
Macy's forecast 2021 sales largely above Wall Street estimates on Tuesday as it bet on vaccine rollouts allowing customers to return to its department stores after pandemic curbs. The upbeat...
Read more ...Home Depot says 2020 revenues soared 20% as investments drove sales
12 days ago - By Biz Journals
Home Depot was cautious about predicting whether the good times will continue this year.
Read more ...Home Depot's Q4 sales jumped 25% to $32.3 billion, beating analyst estimates, but it said future consumer spending remained uncertain
12 days ago - By Business Insider
Nicholas Kamm/AFP via Getty Images
Home Depot on Tuesday posted a 25.1% spike in fourth-quarter total sales to $32.3 billion.
Same-store sales jumped 24.5%, beating analysts' average estimate of an 18.9% increase.
The outlook for consumer spending remained uncertain, Home Depot said.
Visit the Business section of Insider for more stories .
Home Depot beat quarterly same-store sales estimates on Tuesday, riding a sustained wave of demand for home improvement goods as the COVID-19 pandemic drags on. However, the company's shares fell 1.5% in low-volume premarket trading, after Home Depot...
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