Home Depot reported a nearly 5% increase in sales for its fiscal first quarter compared to the same period last year, while profits dipped from $3.4 billion to $3.3 billion; despite consumer uncertainty and housing market pressure, customer demand remained close to last year's levels, though customers were pulling back on larger renovation projects, leading to softer demand for items like flooring, lumber, and lighting.
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Home Depot earnings report shows 5% sales boostAdded:
The Atlanta based Home Depot is reporting that a nearly 5% increase in sales for its fiscal first quarter compared to this time last year.
>> But profits for the world's largest home improvement retailer dipped, falling from 3.4 billion to$3.3 billion. The company says despite consumer uncertainty and continued pressure on the housing market, customer demand is holding close to last year's levels. The company's chief financial officer says customers are pulling back on bigger renovation projects, leading to softer demand for items like flooring, lumber, and lighting. You know, >> I did our last project in February. I haven't been back to Home Depot.
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