Home Depot Explains Its Reduced Expectations
Home Depot (NYSE: HD) recently announced a rare downgrade to its annual growth forecast as part of its second-quarter earnings report. The home-improvement giant now sees sales rising by about 4% rather than the 5% it had predicted as recently as late May.
However, while the lower outlook followed two consecutive quarters of surprisingly slow growth, it didn't represent a significant shift in management's short-term outlook.
In a conference call with investors, CEO Craig Menear and his team explained why they're still bullish on the industry and on Home Depot's competitive position. Below, we'll look at a few highlights from that presentation.
Source Fool.com
