Business
Home Depot tops estimates as sales surge 25%, but shares fall on worries pandemic gains won’t last – CNBC
The home improvement retailer said it does not know how long the pandemic will last and what that will mean for consumer spending.
Home Depot’s fourth-quarter earnings surged past investors’ expectations, as consumers poured more money into home improvement due to the pandemic and strength of the real estate market.
Shares were down more than 2% in premarket trading, after the company did not provide an outlook for the year in its earnings report Tuesday.
Chief Financial Officer Richard McPhail said the retailer is not sure how long the pandemic will last and how that may influence consumer spending. He said if demand from…
