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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

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The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

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Comparable sales — a key measure that strips out new store openings — rose by just 0.2% with US comps up by 0.1% — falling short of Wall Street's expectations and underscoring a subtle yet important shift: more financially stable shoppers are starting to pull back.

"An expected increase in demand in the third quarter did not materialize. We believe that consumer uncertainty and continued pressure in housing are disproportionately impacting home improvement demand," said Ted Decker, chair, president, and CEO of Home Depot.

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

Home Depot's customer base tends to be relatively well off. And the chain benefits when people buy or renovate homes, but higher borrowing costs and a sluggish housing market have slowed that activity.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

Brian W. Nagel, senior equity research analyst at Oppenheimer & Co., told CNBC on Tuesday that the company is facing "a convergence of negative factors" as both housing activity and discretionary spending weaken.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

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The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

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d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

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Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

In a note to clients on Tuesday, retail analyst Neil Saunders of GlobalData Retail said the calmer weather hurt demand across the sector, while uneasy consumers chose to spend on travel and leisure instead of home upgrades.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

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The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

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Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

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The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

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d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

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Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

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ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

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ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

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ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

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ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

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The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

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d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

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ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

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d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

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ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue. kjh h 999

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He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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asd asd asd lkzjxc asl1 k zxc 123 asd asd alshd zxc 2 aksjdh zxckh asd qkwjh xznbc aksjdhasjkd asdkjhuwd aksd akcbc aksjd asd asd

askldhalksda alskdja daslkdj asdljzxc,m,nlas dlsajkdkjh lakskhdaskjhd qw;e askjdh aldj lakjs

For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222 111 222 333 444 55 111

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

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Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

New Topic

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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sdsd

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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sdsd

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

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ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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sdsd

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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sdsd

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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sdsd

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

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The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

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Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

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He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222 111 222 333 444 55 111

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg 2222

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

New Topic

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

sdsds

sdsd

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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sdsd

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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sdsd

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

sdsds

sdsd

dsds

For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

sdsds

sdsd

dsds

For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

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sdsd

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For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

sdsds

sdsd

dsds

For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

Milder weather and a lack of storms also affected sales, Home Depot said, curbing demand for seasonal products such as roofing materials and generators, which typically boost late-summer revenue.

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.

New Topic

sdsds

sdsd

dsds

For a company long considered a bellwether for the health of the American homeowner, Home Depot's miss is a worrying sign.Mario Tama/Getty Images

Home Depot missed forecasts as middle-class shoppers pulled back on big projects.
Milder weather and housing pressures hit demand for home improvement supplies.
One analyst warned the consumer backdrop is going from "from soft to softer" heading into winter.

Home Depot just became the latest major retailer to warn that the slowdown in consumer spending is spreading.

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

dsds f ss

The home improvement cut its full-year outlook on Tuesday, reporting weakening sales growth for Q3.

ds dsds 2222

d ddd dfd 098 99 9999 9888 9 8u 93 485 00 22 4895 89 5 4 5445 5555 44444 245 345 435 34 53 45 345 345 34 4 4

grg

ggg ggggg

Middle-class shoppers are pulling back

Evidence is mounting that it's not just lower-income shoppers who are becoming more cautious with their spending.

The company had expected better results as interest rates eased — but even that tailwind wasn't enough.

"They're not getting any help from the housing market," which is stagnant right now, he said, adding that the consumer backdrop "is going from soft to softer — and that's happening quickly."

0909 0000 000

111 1 1 1 1 888 888888 88 88888 88 8 ---

9999999 09 22 0

He estimated that home-improvement projects declined 0.8% from last year, with the steepest drop in big-ticket remodels that require financing.