Home Depot has released its annual forecasts after raising prices to cope with a slowdown in customer spending.
The company appears to be signaling a gloomy outlook for the holiday shopping season amid a slowdown in the housing market, Reuters reported.
As Kiplinger reported, the DIY home improvement brand even went into early holiday deals well before Black Friday, along with other major retailers like Walmart and Best Buy.
Still, analysts say the company’s third-quarter earnings, released Tuesday, beat expectations, CNBC reported.
Sales reportedly rose nearly 6%, but investors are still watching how rising costs and inflation will affect the company.