Home Depot CFO Carol Tome says 'consumer confidence is near record high levels' but 'consumer demand could be impacted' by lingering U.S.-China trade tension.
host called the company the "perfect microcosm for the U.S. economy" and put his trust behind outgoing-Chief Finance Officer Carol Tome's perspective on the state of the market.
Accounting for the potential impact of tariffs on consumer spending, Home Depot reduced its full-year sales growth outlook to 2.3% from 3.3%. Home Depot "made it clear," he argued, that the U.S. is ahead of China in the trade war, which began more than a year ago. Cramer based his reason on the number of suppliers that have moved operations outside of the country. Those firms have relocated some facilities to Taiwan, Vietnam, Thailand, Indonesia and the U.S., whichHome Depot's partners apparently aren't alone in this endeavor.
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