Topline
Home Depot could see “some modest price movement” after previously saying they would not raise prices due to tariffs, the Wall Street Journal reported Tuesday, as the retailer missed estimates for earnings and revenue—a possible indication consumers are spending less, which will become clearer this week after other big box retailers like Lowe’s, Target, and Walmart also report earnings.
Home Depot reported net earnings at $4.6 billion—below expectations of $4.71 billion.
The retailer’s president and CEO Ted Dinker said in a statement the results were still “in line with our expectations,” and the company reaffirmed its fiscal guidance, including a 2.8% growth in sales for the year.
CFO Richard McPhail warned that higher tariff rates for “some imported goods” could impact prices, but also noted that these adjustments “won’t be broad based,” in comments also confirmed by CNN.
This is a breaking story and will be updated.