In addition to the unexpectedly weak development, Home Depot flags that comparable sales for this year will be in line with last year’s, which is seen as an unexpectedly defensive forecast.
Earnings per share – which in the fourth quarter landed at $3.30 – are also only expected to grow by a single-digit percentage in 2023.
Comparable sales in the fourth quarter fell 0.3 percent, which compares with an average forecast for sales growth of 0.3 percent, according to a Bloomberg survey.
In total, there were net sales of 35.8 billion dollars during the fourth quarter, against the expected 35.9 billion.