Where Will Home Depot Stock Be in 3 Years?
May is a big month for Home Depot (NYSE: HD). Customer traffic tends to rise along with temperatures around the country as shoppers spend energetically on home improvement products. This springtime-demand spike drives the chain's highest sales-volume weeks of the year.
Investors also get a critical update during this period. Home Depot's fiscal first-quarter report arrives just at the start of the spring-demand spike. Let's look at expectations around that upcoming announcement, set for May 16, and where the chain appears to be headed over the next few years.
Worries that a recession will drive a sharp slowdown in the housing market have eased in recent weeks, but there are still some big shareholder concerns heading into the report. Home Depot's 2022 sales growth was pressured by declining customer traffic, for one, which was down 5% for the year.
Source Fool.com
