Home Depot’s sales are improving, but it says consumers are still cautious about spending [MSNBC.com]
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Source: MSNBC.com
Home DepotThe retailer also raised its full-year outlook to reflect its better-than-expected results. It now expects total sales to increase about 4%, including the impact of acquiring SRS Distribution. It previously expected total sales to rise by between 2.5% and 3.5% for the year. Both of those outlooks include a lift from a 53rd week in the fiscal year and an approximately $6.4 billion contribution from SRS, which sells supplies to professionals in the roofing, landscaping and pool businesses.The retailer expects comparable sales to decline about 2.5% for the 52-week period. Home Depot previously projected that industry metric, which includes the company's website and stores open for more than a year, would drop by 3% to 4% compared with the prior fiscal year.In an interview with CNBC, Chief Financial Officer Richard McPhail said the retailer's forecast reflects the stronger results in the past quarter. But he said consumers are still deferring purchases as they wait for lower mor
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