US retailers have cited the US-China trade war for under-performing sales figures. Home Depot has lowered expectations for full-year comparable sales growth from 5% to 4% and full-year revenue growth to 2.3% from 3.3%, blaming the ongoing dispute. Its Q2 profit fell from $3.51bn to $3.48bn, while revenue increased from $30.46bn to $30.84bn. TK Maxx-owner TJX reported Q2 comparable sales growth of 2%, which was 1% below predictions. The Dow Jones Industrial Average closed down 1,159.77 points, or 2.4%, at 24,315.94, with Boeing leading decliners by a margin of 0.4%.
US retailers have cited the US-China trade war for under-performing sales figures. Home Depot has lowered expectations for full-year comparable sales growth from 5% to 4% and full-year revenue growth to 2.3% from 3.3%, blaming the ongoing dispute. Its Q2 profit fell from $3.51bn to $3.48bn, while revenue increased from $30.46bn to $30.84bn. TK Maxx-owner TJX reported Q2 comparable sales growth of 2%, which was 1% below predictions. Kohl's has also said it has been hit by tariffs on Chinese imports and has published below-expected comparable sales.