The Home Depot posted strong profits in its final quarter of 2022, but a tepid outlook for this year sank shares of the home improvement retailer before markets opened Tuesday.
Home Depot employs 437,000 people in the U.S. and 34,000 in Canada. The vast majority are hourly employees, the company said. The company operates 2,000 stores in the U.S. and 182 stores in Canada.
The global economy, however, has been distorted as it tries to put the pandemic behind it, with inflation elevated everywhere and the booming housing market cooling down, partly due to actions taken by the Federal Reserve to cool inflation, namely raising interest rates.as soaring mortgage rates and sky high prices in 2022 pushed homeownership out of reach for many Americans.
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