Home Depot Maintains Guidance as US Spending Holds Up (4)

Home Depot Inc. maintained its guidance for the fiscal year as US sales ticked up, a sign that consumer spending has held up despite economic turbulence.

While the world’s largest home-improvement retailer said comparable sales dropped 0.3% in the three months that ended May 4, marking a slowdown from the previous quarter, that same metric in US stores rose slightly, bolstered by smaller projects.

February sales weighed on the quarter due to weather conditions across the country, though demand improved in March and April, Chief Financial Officer Richard McPhail said in an interview. Positive sales have continued through the first ...