Reported 11 days ago
Home Depot has raised concerns about shifts in consumer behavior, as reflected in its third-quarter earnings report for 2024, which showed a 1.2% decrease in comparable sales year-over-year. Customers are increasingly cautious about spending, postponing large home improvement projects due to macroeconomic and political uncertainties, despite slight sales boosts from hurricane-related purchases. The company's CFO highlighted that consumer confidence is crucial for returning to higher spending levels, while future sales expectations have been adjusted to reflect ongoing challenges.
Source: YAHOO