家得宝利润下滑，家居装修行业持续低迷

Core Viewpoint - Home Depot is facing pressure on home renovation activities due to economic uncertainty, high interest rates, and a stagnant real estate market, resulting in a decline in fourth-quarter profits [1][5]. Financial Performance - The company's net profit for the fourth quarter was $2.57 billion, or $2.58 per share, down from $3 billion, or $3.02 per share, in the same period last year [1][5]. - Adjusted earnings per share were $2.72, exceeding analyst expectations of $2.53 [2][6]. - Sales decreased by 3.8% to $38.2 billion, but this was above Wall Street's forecast of $38.09 billion [3][7]. Sales and Market Trends - Same-store sales increased by 0.4% [4][8]. - The company reaffirmed its fiscal 2026 performance outlook, projecting same-store sales growth to be flat to 2% and adjusted earnings per share growth to be flat to 4% [4][8]. Consumer Behavior and Market Conditions - The CFO noted that consumer uncertainty and a frozen housing market are impacting homeowners' willingness to spend on housing [1][5]. - Economic uncertainties, including falling home prices and an unstable job market, have led homeowners to postpone renovation projects [1][5]. - High interest rates are particularly suppressing homeowners' non-essential upgrades typically financed through loans [1][5].