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Home Depot reports $4.5 billion profit, keeps outlook despite slowdown

Home Depot (Romanista/iStock, File)

ATLANTA — Home Depot says customers are delaying larger renovation projects because of higher interest rates and economic uncertainty. Still, the Atlanta-based home improvement retailer reports homeowners are continuing to take on smaller job renovations.

The company reported second-quarter profit of more than $4.5 billion on revenue of over $45 billion. Same-store sales rose 1 percent, though overall results came in slightly below Wall Street expectations.

Home Depot is sticking with its full-year forecast, projecting sales growth of about 2.8 percent. Wall Street is also awaiting earnings results from Walmart and Target, both set to report later this week.



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