Home Depot Says For The Year, Total Company Comp Sales Decreased 3.2% And U.S. Comp Sales Decreased 3.5%; In Q4, Gross Margin Was ~33.1 A Decrease Of 20 Basis Points From Last Year; For Year Our Gross Margin Was ~33.4% A Decrease Of 15 Basis Points From Last Year Which Was In Line With Our Expectations
Portfolio Pulse from Benzinga Newsdesk
Home Depot reported a decrease in total company comp sales by 3.2% and U.S. comp sales by 3.5% for the year. In Q4, the gross margin was approximately 33.1%, a decrease of 20 basis points from the previous year. The annual gross margin was around 33.4%, down 15 basis points, aligning with expectations.
February 20, 2024 | 2:26 pm
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Home Depot reported a year-over-year decrease in both total and U.S. comparable sales, alongside a slight decrease in gross margin for Q4 and the full year, which met company expectations.
The reported decrease in comparable sales and a slight dip in gross margin could be perceived negatively by investors, potentially leading to a short-term decrease in Home Depot's stock price. However, the fact that these results were in line with the company's expectations might mitigate some negative impact.
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