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Home Depot releases dim holiday forecast

Home Depot to 'reinvent' traditional Black Friday sales
Posted at 9:59 PM, Nov 15, 2022
and last updated 2022-11-15 23:12:00-05

Home Depot released its annual forecasts after raising prices to deal with a slowdown in customer spending.

The company appears to signal a dim outlook for the holiday shopping season amid a slowdown in the housing market, Reuters reported.

As Kiplinger reported, the do-it-yourself home improvement brand even go in on the early holiday deals well before Black Friday, along with other large retailers like Walmart and Best Buy.

Still, analysts say the company's third-quarter earnings released on Tuesday beat expectations, CNBC reported.

Revenue reportedly increased by almost 6%, still investors are monitoring how rising costs and inflation will affect the company.