Home Depot's annual forecast will be the prime focus for investors when the U.S. home improvement bellwether reports fourth-quarter results on Tuesday, as they scour for signs of a rebound in demand after a turbulent year. Home Depot and smaller rival Lowe's are set to round out 2023 with their fifth consecutive decline in quarterly same-store sales, as tighter budgets and a shift in spending to services triggered a pause in home improvement projects. Wall Street analysts have also become increasingly bullish on recovery in the home improvement space, especially in the back half of 2024, banking on factors including an expected improvement in discretionary spending and home sales.
Home Depot's annual forecast will be the prime focus for investors when the U.S. home improvement bellwether reports fourth-quarter results on Tuesday, as they scour for signs of a rebound in demand after a turbulent year. Home Depot and smaller rival Lowe's are set to round out 2023 with their fifth consecutive decline in quarterly same-store sales, as tighter budgets and a shift in spending to services triggered a pause in home improvement projects. Wall Street analysts have also become increasingly bullish on recovery in the home improvement space, especially in the back half of 2024, banking on factors including an expected improvement in discretionary spending and home sales.
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