Retail
HD delivered 4.8% revenue growth to $41.8B in Q1 FY2026, aided by the GMS acquisition, but gross and operating margin compression drove net income and diluted EPS down 4.2% and 4.3%, respectively. Source: 10-Q Item 2 MD&A, pp.15-16
Key risk: Tariff and trade-policy uncertainty
HD said the ultimate effects of evolving tariffs, trade-policy discussions, litigation, and the U.S. Supreme Court decision involving IEEPA tariffs cannot be predicted with certainty. The timing and total amount of any additional tariff refunds are uncertain; the company had not recorded IEEPA tariff refunds as of May 3, 2026.
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