Home Depot Inc beat quarterly profit estimates on Tuesday as it sold more big-ticket items to high-spending builders and handymen, while flagging ...
REUTERS: Home Depot Inc beat quarterly profit estimates on Tuesday as it sold more big-ticket items to high-spending builders and handymen, while flagging the potential impact of U.S. President Donald Trump's ongoing trade tussle with China on consumers.
Home Depot estimated the proposed 10per cent levies, currently scheduled to go into effect on Sept. 1 and Dec. 15, along with the 25per cent tariffs already in effect, could raise its cost of sales by US$2 billion - about 2per cent of its annual sales. The Atlanta-based chain, which is looking to broaden its business beyond its core"do-it-yourself" customers, said its average bill amount rose 1.7per cent to US$67.3 in the reported quarter.
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