© Reuters. FILE PHOTO: The Home Depot logo is seen in Encinitas, California, on April 4, 2016. REUTERS / Mike Blake
(Reuters) -Home Depot Inc. on Tuesday lost quarterly sales estimates in the same U.S. stores as rising demand for DIY home improvement products slowed and people were increasingly venturing out. house.
The company’s shares, which have gained more than 26% this year, fell 4% in pre-market trading.
Home improvement chains had an overproduction of 2020, as revenues and profits increased from Americans trapped in the home who spent on paint, tools, and gardening equipment to improve their living spaces through home improvement projects. DIY.
Sales in the same store in the US at Home Depot (NYSE 🙂 rose just 3.4% in the second quarter, compared to a 25% jump the year before, as the launch of COVID-19 vaccines encouraged more Americans to return to business outdoors and leave behind some pandemic-induced shopping habits.
Analysts had expected sales at the same U.S. stores to increase 4.9%, according to Refinitiv’s IBES data.
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