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PULSE POINTS:
❓What Happened: Home Depot reiterated its full-year sales forecast and announced it would not raise prices in response to tariffs.
👥 Who’s Involved: Home Depot, Chief Financial Officer Richard McPhail, U.S. consumers, suppliers.
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📍 Where & When: United States, fiscal first quarter ending May 4.
💬 Key Quote: “We intend to generally maintain our current pricing levels across our portfolio,” said CFO Richard McPhail.
⚠️ Impact: Home Depot’s pricing strategy contrasts with competitors like Walmart, and the company reported muted sales growth amid a tough housing environment.
IN FULL:
Home Depot announced on Tuesday that it will maintain its current pricing strategy despite claims that President Donald J. Trump’s tariffs could result in higher retail costs for consumers, citing strong supplier relationships and operational efficiency. Chief Financial Officer (CFO) Richard McPhail said that the company’s scale and partnerships would allow it to avoid price hikes.
“Because of our scale, the great partnerships we have with our suppliers and productivity that we continue to drive in our business, we intend to generally maintain our current pricing levels across our portfolio,” McPhail said during an interview with CNBC on Tuesday morning.
The Home Depot CFO noted earlier on Tuesday, during a company earnings call, that the tariffs provided an opportunity for the massive hardware and supply retailer to expand its market share against competitors. “It’s a great opportunity for us to take share, and it’s a great opportunity for our suppliers to take share as well,” he said.
McPhail highlighted that over half of Home Depot’s products are sourced domestically. Additionally, the company has diversified its import sources, reducing reliance on China. By next year, no single country outside the U.S. will account for more than 10 percent of its purchases, according to McPhail.
The announcement coincided with the release of Home Depot’s fiscal first-quarter results. The company missed Wall Street’s earnings expectations for the first time since May 2020 but exceeded sales forecasts. Net income for the quarter, ending May 4, stood at $3.43 billion, or $3.45 per share, down from $3.60 billion, or $3.63 per share, a year earlier. Total sales grew 2.8 percent year over year, bolstered by the acquisition of SRS Distribution, a supplier for home professionals.
Home Depot CEO Ted Decker, on the same earnings call, contended that the slower sales were because of “stubbornly high” interest rates, laying the blame at the feet of the Jerome Powell’s Federal Reserve—though he did not name the central bank directly.
Comparable sales fell 0.3 percent during the quarter, with U.S. comparable sales increasing slightly by 0.2 percent. McPhail attributed February’s decline to poor weather but noted that sales improved in March and April, with the latter seeing a 1.8 percent year-over-year increase. The company also reported a 2.1 percent rise in customer transactions, with an average ticket of $90.71.
Notably, McPhail’s comments add further evidence to the argument that many companies will attempt to maintain current price levels or mitigate increases as much as possible to maintain their market share. This appears to be especially true for suppliers and U.S. retailers who are considering shifting or even eliminating product sourcing in China.
PULSE POINTS:
❓What Happened: A 92-year-old disabled man holding a butter knife was pepper-sprayed, tasered, and struck with a baton by police officers responding to a nursing home incident. After being hospitalized, he contracted COVID-19 and died within a month.
👥 Who’s Involved: Donald Burgess, a one-legged wheelchair user; Police Constable (PC) Stephen Smith, and PC Rachel Comotto.
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📍 Where & When: The incident occurred at St Leonards-on-Sea, England, on June 21, 2022. Bodycam footage was released this week.
💬 Key Quote: Prosecutor Paul Jarvis KC: “This was an elderly, vulnerable man who may not have understood what was going on. Rather than being met with understanding and sympathy, he was confronted by irritation and annoyance on the part of the defendants.”
⚠️ Impact: Mr. Burgess was hospitalized and died 22 days after the incident.
IN FULL:
Two British police officers are on trial for allegedly using excessive force against a 92-year-old disabled man at a nursing home in East Sussex. The incident, which occurred on June 21, 2022, involved Donald Burgess, a one-legged pensioner in a wheelchair, who was pepper-sprayed, tasered, and struck with a baton within seconds of officers entering his room.
Southwark Crown Court heard that Police Constable (PC) Stephen Smith and PC Rachel Comotto were responding to an emergency call after staff reported Mr. Burgess had poked a care worker with a knife. Staff had spent 30 minutes attempting to calm Mr. Burgess after he flicked food and brandished a small butter knife, before calling police.
Prosecutors allege that the officers used “unjustified and unlawful” force. According to bodycam footage presented in court, PC Smith pepper-sprayed Mr. Burgess directly in the face, allegedly emptying the canister. Moments later, Smith struck him with a baton, and Comotto deployed her Taser, causing Mr. Burgess to cry out in pain.
Prosecutor Paul Jarvis KC told jurors that Mr. Burgess was seated in his wheelchair, holding the knife but posing no immediate threat. He stated, “It ought to have been obvious by the fact he had one leg that this was a man who wasn’t going to be mobile.”
He added, “This was an elderly, vulnerable man who may not have understood what was going on. Rather than being met with understanding and sympathy, he was confronted by irritation and annoyance on the part of the defendants.”
The court was told that the officers did not consult staff or explain their actions to Mr. Burgess before issuing commands. PC Smith warned, “Do you want to put the knife down, or you will be sprayed or tasered? Those are the options,” before discharging the spray.
Mr. Burgess, who suffered from multiple health conditions, including diabetes and carotid artery disease, was taken to the hospital after the incident. He later reportedly contracted COVID there and passed away 22 days later. Still, prosecutors say that the officers are not being held responsible for his death.
The case comes amid accusations of two-tier policing by British police, with Christians, conservatives, and white people receiving less favorable treatment. There have been many arrests and visits to people’s homes over social media posts in recent months, some of them labelled “non-crime hate incidents.”
VIDEO:
ADMIN POST.
A 93-year-old disabled pensioner was sprayed in the face with pepper spray before being shot by a Taser and hit with a baton by police officers, a court has heard.
Donald Burgess was assaulted by PC Stephen Smith and PC Rachel Comotto after officers responded to a… pic.twitter.com/OPBayQccsd
— Tommy Robinson 🇬🇧 (@TRobinsonNewEra) May 19, 2025
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