Home Depot Guarded on Future Demand After Bumper First-Quarter Sales

Home Depot Guarded on Future Demand After Bumper First-Quarter Sales
A Home Depot store is seen in Washington, on Aug. 18, 2020. Nicholas Kamm/AFP via Getty Images
Reuters
Updated:

Home Depot on Tuesday cautioned it was difficult to predict how its business would be impacted by a potential change in shopping habits in the coming months as the reopening of the U.S. economy threatens to slow a pandemic-fueled sales boom.

The lack of a solid forecast from the top U.S. home improvement retailer, which benefited in the last year from a strengthening housing market, came as data showed homebuilding fell more than expected in April, likely pulled down by soaring prices for lumber and other materials.