Reported 12 days ago
Home Depot anticipates a smaller drop in same-store sales for 2024, buoyed by strong demand from contractors and an increase in hurricane-related spending. The company reported better-than-expected results for the third quarter, benefiting from storms that prompted consumer purchases of essential building materials. Although they are cautious about the long-term effects of recent interest rate cuts, Home Depot's focus on professional customers appears to be paying off, with only a 1.3% decline in comparable sales, the smallest since late 2022.
Source: YAHOO