Home improvement giant HomeDepot (HD -1.49%) investors spooked last week after it reported underwhelming earnings and adjusted its guidance downward for the year. A slowdown in consumer spending is finally starting to hit the retailers hard.
But despite the near-term trouble, investors should stay the course and keep Home Depot’s stock in their portfolios, or even consider adding it on the current weakness. Here’s why it can be a great buy right now.
Sales are now expected to decline this fiscal year
On May 16, Home Depot released its first-quarter numbers while also updating guidance for fiscal 2023. The