Reported 2 months ago
Home Depot has reported a 3.6% decline in U.S. comparable sales for the second quarter of 2024, with CEO Ted Decker attributing the drop to rising interest rates, macroeconomic uncertainties, and reduced consumer spending on home improvement projects. The tightening housing market is impacting consumer interest in larger renovations, leading to decreased operating income and net earnings as the company anticipates continued sales declines throughout the fiscal year.
Source: YAHOO