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(Reuters) - Home Depot Inc said on Tuesday pandemic-related uncertainties made it difficult to predict if its sales dream run from last year will continue into 2021, even as its quarterly sales handily beat analysts’ estimates.
The home improvement chain’s shares fell 5%, despite a 24.5% jump in fourth-quarter comparable sales, above analysts’ estimates of an 18.9% increase.
Stuck-at-home Americans have been snapping up tools, paint and building materials all through the COVID-19 health crisis, but the roll out of vaccines and the hopes for a normal life have led many to believe that sales growth in 2021 will fade.
“Significant uncertainty remains with respect to the course of the pandemic, the distribution of vaccines and short-term fiscal policy... Given these uncertainties, we are limited in our ability to forecast demand for the year,” Home Depot Chief Financial Officer Richard McPhail said.