Home Depot's Warning for Investors
Home Depot (NYSE: HD) just closed out a record fiscal year that saw the chain post $22 billion in annual sales. Consumers spent aggressively on upgrading and remodeling their homes at a time when other budget categories, like vacations and away-from-home entertainment, slumped.
Those spending priorities might change just as dramatically over the next year as the pandemic winds down, management warned in their latest earnings report. As a result, it's not possible to predict how the current fiscal year will play out.
Investors were disappointed to hear that cloudy outlook, along with Home Depot's prediction that costs might be rising over the next few years. The stock price dropped about 5% just after the report was released.
Source Fool.com
