Home Depot reported a slight increase in sales despite a decline in comparable sales, mainly due to the impact of the SRS Distribution acquisition.
Home Depot revised its fiscal 2024 guidance due to weaker-than-expected performance, expecting a comparable sales decline and total sales growth, including the impact of SRS and an extra week in the fiscal year.
Home Depot focuses on driving value through innovation in a rational promotional environment, leading to improved gross margins despite ongoing challenges.