Home Depot reported Q1 net earnings of US$3.56 per share, down three percent from a year earlier and short of Wall Street estimates of $3.59. Revenues rose by 9.4 percent to $39.86 billion, exceeding estimates of $39.29 billion. Same-store sales fell by 0.3 percent, a bigger drop than the expected 0.2 percent.
In a statement accompanying the announcement, CFO Richard McPhail said the company said it plans to keep prices unchanged despite the threat posed by U.S. tariffs. “We anticipate that 12 months from now, no single country outside of the United States will represent more than 10 per cent of our purchases.”
