On Tuesday, Home Depot reported Q4 results that topped expectations, but did not provide an outlook and said it could not predict “how consumer spending will evolve” in 2021.
Video Transcript
MYLES UDLAND: All right, let’s talk quickly about Home Depot. Stock was down a little bit in pre-market trade. And I think this kind of goes to that theme of what’s– they said they’re looking for, the language was, if full year trends for comp sales continue for fiscal ’21, they will see flat to slightly positive comps. This coming after a year where they had 20% year-on-year comps. What’s flat to slightly positive for Home Depot, probably great for you and I getting back out there to do something other than sit at home. But after such a killer year, not a huge surprise that Home Depot is not really looking for another 20% growth year like they saw in 2020.
BRIAN SOZZO: Right, Myles. And I think while you’re seeing the stock perhaps not really go up much or really just a little bit under pressure downside bias, they didn’t come out with guidance. They did drop, to your point, they did drop that same store sales comment at the bottom of the press release. But the company is getting dinged in some of the early analyst notes for not coming out after a real blowout year and coming out with strong guidance. Especially look, Macy’s came out with guidance. And they’ve been falling down the drain for the past two years. And even that company has come out with guidance.
Source: Yahoo Finance
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