Home Depot raises annual same-store sales forecast

(Reuters) – Home Depot (NYSE:) raised its annual same-store sales forecast on Tuesday, betting on resilient demand from professional contractors to offset weak spending on bigger projects such as kitchen renovations.

The top U.S. home improvement chain now expects a fall in comparable sales of 2.5% for fiscal year 2024, from its prior range of a 3% to 4% drop.