Market Overview - US stock index futures showed mixed performance with Dow futures slightly up, S&P 500 futures down by 0.16%, and Nasdaq futures down by 0.66% [1] - European indices saw positive movement with Germany's DAX up by 0.61%, UK's FTSE 100 up by 0.60%, France's CAC40 up by 0.56%, and the Euro Stoxx 50 up by 0.50% [2][3] - WTI crude oil prices fell by 0.42% to $61.88 per barrel, while Brent crude oil dropped by 0.46% to $65.24 per barrel [3][4] Federal Reserve Insights - Federal Reserve officials indicated that interest rate cuts may not occur before September due to uncertain economic outlook, with current expectations for a rate cut in June being less than 10% [5] - The market anticipates two rate cuts by the end of the year, each by 25 basis points, which is lower than previous expectations of four cuts [5] Banking Sector Developments - Moody's downgraded the deposit ratings of major US banks, including Bank of America and JPMorgan Chase, citing reduced government support following the downgrade of the US credit rating [6] - The long-term deposit ratings for these banks were lowered to Aa2, which is Moody's third-highest rating [6] Currency and Economic Outlook - Deutsche Bank warned of potential depreciation risks for the US dollar, suggesting that upcoming budget negotiations will significantly impact the dollar's position [7] - Wells Fargo advised investors to reduce exposure to emerging market stocks in favor of US equities, predicting a stronger dollar and cautioning against overly optimistic sentiment towards emerging markets [7] Company-Specific News - Vodafone reported a decline in revenue in its key German market, forecasting minimal growth for the upcoming fiscal year and announcing a new €2 billion share buyback plan [8] - Yalla Technology's Q1 revenue grew by 6.5% year-over-year to $83.9 million, but paid user numbers fell by 8% [9] - Vipshop's Q1 net revenue decreased by 4.7% to RMB 26.3 billion (approximately $3.6 billion), with active customer numbers down by 4.2% [10] - Home Depot's sales fell short of expectations, indicating weakened consumer confidence, with comparable sales down by 0.3% [10] - Cathie Wood's ARK Invest made significant purchases of Taiwan Semiconductor Manufacturing Company (TSMC) shares, marking a shift in strategy amid easing trade tensions [11] Upcoming Economic Events - Key economic data releases include the US Redbook retail sales year-on-year and API crude oil inventory changes [12][14] - Notable speeches from Federal Reserve officials are scheduled, which may provide further insights into monetary policy [13][14]

智通财经APP获悉，家得宝(HD.US)最近一个季度的销售额低于预期，这表明消费者信心减弱和经济动 荡正在挤压支出。这家全球最大的家居装饰零售商表示，截至 5 月 4 日的三个月内，可比销售额下降了 0.3%，较上一季度有所放缓。 财报显示，家得宝一季度营收为 398.6 亿美元，同比增长 9.5%，高于市场预期；调整后每股收益为3.56 美元，不及预期的3.59美元。 家得宝重申其 2025 财年指引，该公司预计总销售额增长约2.8% ；可比 52 周销售额增长约 1.0%。 首席财务官理查德·麦克菲尔在接受采访时表示，虽然2月份因全国范围内的天气状况影响了当季销售， 但3月和4月的需求有所改善。当前季度的前几周销售继续保持积极态势。 他表示，"我们的消费者仍然告诉我们，利率环境仍然是一个考虑因素，他们表示目前正在推迟大型项 目，"并补充道消费者习惯保持稳定。家得宝约80%的客户是自有住房者。 家得宝对应对关税影响持更为乐观的态度，因为它继续与供应商密切合作以实现采购多元化。从现在起 的12个月内，美国以外的任何国家在其采购中的占比都不会超过10%。麦克菲尔表示，这将有助于公司 总体上保持当前的定价水平，同 ...

"We feel great about our store readiness and product assortment as spring continues to break across the country," he said. Home Depot maintained its full-year guidance of a 2.8% rise in total sales and an approximately 1% increase for comparable sales. Retail analysts told Business Insider that Walmart's move gave other retailers air cover to follow suit. McPhail's comments come as Home Depot posted a 9.4% rise in first-quarter sales to $39.9 billion, although comparable sales fell by 0.6% due to the impact ...

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Core Viewpoint - Home Depot's sales fell short of expectations, with same-store sales declining by 0.3% for the three months ending May 4. The CFO attributed the slowdown to weakened consumer sentiment and economic turmoil, as consumers postponed large renovation projects due to the interest rate environment. Despite these challenges, Home Depot maintains its full-year forecast and is investing in expanding its product offerings for professional contractors and enhancing its digital business [1]. Group 1 - Home Depot's same-store sales decreased by 0.3% in the recent quarter [1] - The CFO linked the sales slowdown to weakened consumer sentiment and economic instability [1] - Consumers are delaying large renovation projects due to the current interest rate environment [1] Group 2 - Home Depot is maintaining its full-year forecast despite the sales challenges [1] - The company is investing in expanding its product supply for professional contractors [1] - Home Depot is also focusing on enhancing its digital business [1]

Financial Performance - Total sales for the first quarter of fiscal 2025 were $39.9 billion, a 9.4% increase from the same period in fiscal 2024[1] - Net earnings for the first quarter of fiscal 2025 were $3.4 billion, or $3.45 per diluted share, compared to $3.6 billion, or $3.63 per diluted share in the prior year[1][2] - Comparable sales for the first quarter of fiscal 2025 decreased by 0.3%, while comparable sales in the U.S. increased by 0.2%[1] - Adjusted diluted earnings per share are expected to decline approximately 2% from $15.24 in fiscal 2024[3] - The diluted earnings per share (GAAP) decreased by 5.0% to $3.45 from $3.63 year-over-year[24] - The adjusted diluted earnings per share (Non-GAAP) was $3.56, down 3.0% from $3.67 in the previous year[24] - Net earnings for the three months ended May 4, 2025, were $3,433 million, a decrease of 4.6% compared to $3,600 million for the same period in 2024[17] Sales and Store Operations - The company reaffirms its fiscal 2025 guidance, projecting total sales growth of approximately 2.8% and comparable sales growth of approximately 1.0%[3] - The company plans to open approximately 13 new stores in fiscal 2025[3] - Customer transactions increased by 2.1% to 394.8 million in the first quarter of fiscal 2025[12] - The company operated a total of 2,350 retail stores and over 790 branches at the end of the first quarter[5] Margins and Earnings - The gross margin for the first quarter of fiscal 2025 was approximately 33.4%[3] - The operating margin (GAAP) for the quarter was 12.9%, a decrease from 13.9% in the same quarter last year[21] - The company expects an approximate 40 basis point impact on adjusted operating margin guidance for fiscal 2025 due to acquired intangible asset amortization[22] Cash Flow and Investments - Cash flows from operating activities totaled $4,325 million, down from $5,497 million, indicating a decline of 21.3%[17] - The company reported a net cash used in investing activities of $931 million, compared to $830 million in the prior year[17] - Cash dividends paid were $2,286 million, slightly up from $2,229 million, representing a 2.6% increase[17] - Cash and cash equivalents at the end of the period were $1,369 million, down from $4,264 million at the end of the same period last year[17] Assets - Total assets increased to $99.2 billion as of May 4, 2025, compared to $79.2 billion a year earlier[15] - Adjusted operating income for the same period was $5,272 million, reflecting a 2.7% increase from $5,131 million in the prior year[21]

ATLANTA, May 20, 2025 /PRNewswire/ -- The Home Depot®, the world's largest home improvement retailer, today reported sales of $39.9 billion for the first quarter of fiscal 2025, an increase of 9.4% from the first quarter of fiscal 2024. Comparable sales for the first quarter of fiscal 2025 decreased 0.3%, and comparable sales in the U.S. increased 0.2%. For the first quarter of fiscal 2025, foreign exchange rates negatively impacted total company comparable sales by approximately 70 basis points. Net earnin ...

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Core Viewpoint - Home Depot is set to release its first-quarter earnings results, with expectations of a slight decline in earnings per share but an increase in revenue compared to the previous year [1]. Financial Performance - Analysts predict Home Depot will report earnings of $3.59 per share, down from $3.63 per share in the same quarter last year [1]. - The company is expected to report quarterly revenue of $39.14 billion, an increase from $36.42 billion a year earlier [1]. Analyst Ratings - Home Depot has exceeded revenue estimates in two consecutive quarters and six out of the last ten quarters [2]. - Recent analyst ratings include: - Wells Fargo maintains an Overweight rating, lowering the price target from $445 to $420 [8]. - Truist Securities maintains a Buy rating, raising the price target from $391 to $393 [8]. - JP Morgan maintains an Overweight rating, reducing the price target from $470 to $410 [8]. - Morgan Stanley maintains an Overweight rating, cutting the price target from $450 to $410 [8]. - Piper Sandler maintains an Overweight rating, lowering the price target from $435 to $418 [8].

Core Viewpoint - Home Depot's comparable sales are expected to slow, reflecting concerns over tariffs and declining consumer sentiment impacting the housing market [1][2] Sales Performance - Analysts predict a softening in Home Depot's comparable sales, indicating potential challenges ahead [1] - Lowe's same-store sales are also forecasted to dip, and Floor & Decor has cut its full-year sales forecast [3] Tariff Impact - Tariff policies under President Trump are causing chaos in various industries, potentially increasing housing product costs and curbing consumer spending [2] - Home products are identified as highly exposed to tariffs, with demand and pricing closely linked due to their discretionary nature [3] Economic Sentiment - Over 50% of respondents in goods-producing sectors anticipate negative impacts from tariffs, reflecting growing concerns over supply chain disruptions and rising raw material costs [4] - The ongoing uncertainty is leading businesses to delay investments and hiring plans until trade policy clarity is achieved [5] Economic Performance - The U.S. economy contracted by 0.3% in the first quarter of 2025, marking the first decline since 2022, highlighting the tangible effects of trade tensions [5]