This 1 Number From Home Depot Should Worry Investors
Business is decelerating at Home Depot (NYSE: HD). The home improvement center is forecasting profits in 2023 will fall compared to last year as consumers cut back on spending and it plans to increase the pay of its hourly workers by $1 billion.
Although CEO Ted Decker thinks the wage hikes will better competitively position the retailer, there is one number that investors really need to monitor to see just how bad things are going to get: inventory.
That figure keeps growing for Home Depot, and its continued expansion should be a worrisome warning sign.
Source Fool.com
