Home Depot and Klarna both released second quarter earnings results on Tuesday, offering mixed signals on the health of the US consumer. Home Depot reported comparable sales up 1.7%, its best performance since late 2022 and above whisper numbers of 1 to 1.3%, though the residential housing market remains moribund. Klarna posted a profit versus an expected loss, with average revenue per active customer up 24%, but it cut its full-year revenue forecast due to exchange issues and noted possible volume moderation in Germany. The company also announced the planned departure of its CFO, a move that surprised some investors, and it is seeking a New York-based replacement rather than one in Stockholm. A New York Times story highlighted that buy now, pay later services are increasingly being marketed for necessities like rent and utility bills, suggesting pressure on lower-end consumers.
The Home Depot IncComparable sales up 1.7%, best since late 2022, beating expectations.
Klarna Group plcCut full-year revenue forecast and CFO departure announced.
