Home Depot HD, +2.11% warned that lumber price deflation, as well as the impact of possible tariffs, will impact its fiscal year sales. The home improvement giant said second-quarter net income fell slightly to $3.48 billion, or $3.17 a share, as sales rose 1.2% to $30.
84 billion and comparable-store sales rose 3%. Analysts polled by FactSet expected earnings of $3.09 a share on sales of $31 billion. While it still earnings rising 3.1% for the year, it now says annual sales will rise 2.3% and comparable-store sales will rise 4%. Analysts had forecast EPS growth of 2.1% on sales growth of 2.8%.
And boycott. Lumber prices have already been affected by trade war with Canada.
MetallicaDad Imagine what this is going to do to the housing industry.
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