Home Depot Reaffirms 2020 Sales Guidance

Home Depot HDS has reaffirmed sales guidance and sees fiscal year 2020 total sales growth at 3.5%-4%, and comparable sales growth at 3.5%-4%.

The company expects operating margin to be at 14% and return on invested capital of approximately 45%.

See Also: Home Depot Reports Mixed Q3 Earnings, Cuts Guidance

"We are confident that the investments we are making in the One Home Depot experience will address the evolving needs of our customers,” Craig Menear, CEO of Home Depot said in a statement. “We are building on our distinct competitive advantages to capitalize on a large and fragmented market opportunity and extend our leadership position for years to come."

Home Depot shares were trading down 1% at $213.74 in Wednesday’s pre-market session. The stock has a 52-week high of $239.31 and a 52-week low of $158.09.