Home Depot Inc. said Tuesday the home-improvement market could weaken this year, if consumer spending keeps shifting toward services from goods, and if inflation continues to affect demand.
The home-improvement giant HD,
expects fiscal 2023 net sales and same-store sales to be about flat with last year, however, because it will take market share from its competitors.
Sales could be hurt further if lumber prices, which have already fallen by more than 50% from a year ago, continue to decline.
The average analyst estimate compiled by FactSet for sales at the time Home Depot reported results was $158 billion,