Home Depot has slashed its outlook for sales, the latest sign that US consumers are pulling back at a time of high interest rates.
The home hardware retailer said comparable sales would fall by 3 to 4 per cent this year, steeper than its previous forecast of a 1 per cent decline.
The cut to Home Depot’s guidance comes after years of strong inflation stretched the finances of US households. Companies from McDonald’s to Disney have already revealed growing caution by consumers.
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