Home Depot’s sales felled by bad weather and cheap lumber in 1Q
May 16, 2023
Home Depot’s same-store sales fell 4.5 percent in the first quarter, below the 1.42 percent decrease expected by analysts. The chain’s total revenues fell 4.2 percent year-over-year during the quarter. Ted Decker, president and CEO of the home improvement retailer, said “lumber deflation and unfavorable weather” affected the chain’s results.
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