Home Depot (HD) has issued a forecast for its 2026 sales and profit that fell below analysts’ estimates as the retailer holds its first investor day in more than two years.
The home improvement company said that demand for do-it-yourself home improvement projects and big-ticket sales continue to cool in the U.S. as consumers pullback spending.
As such, the Atlanta-based retailer said it expects same-store sales in 2026 to grow in a range of flat to up 2%. That outlook is below the consensus forecast that called for 2.34% growth.
Home Depot also forecast adjusted earnings per share (EPS) to be flat to up 4%. Analysts had estimated the company’s earnings growth at 5.6%.
Retailers such as Home Depot are under pressure as Americans curb their spending on discretionary items such as costly home renovations and appliance purchases.
The U.S. housing market remains weak due to rising unemployment and high home prices.
Home Depot currently employs around 470,000 workers at its 2,356 retail stores and more than 1,200 SRS locations in the U.S. and Canada.
HD stock has declined 10% this year to trade at $349.91 U.S. per share.
