Home Depot's CFO Richard McPhail announced the retailer will not pass on tariff-related costs to consumers, crediting strong supplier ties and productivity. This statement follows Walmart's decision to raise prices due to tariffs. Despite a 9.4% rise in first-quarter sales to $39.9 billion, comparable sales dropped by 0.6%, and net earnings decreased by $200 million. Home Depot reassured investors with full-year sales predictions and reported a 2.5% rise in stock in premarket trading.
Home Depot intends to maintain its current pricing levels despite tariffs, enabled by strong supplier partnerships and productivity.
We feel great about our store readiness and product assortment as spring continues to break across the country.
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