Home Depot's Earnings Report: Moderation, Rally, and Surpassing Expectations
Home Depot reported a 3.10% decline in sales for Q3, with revenue slightly exceeding expectations. The company experienced decreased foot traffic and purchases over $1,000, as consumers focused on smaller projects and tightened their belts. Categories like flooring and countertops saw softer engagement, while pro-heavy categories like roofing and insulation performed well. Home Depot aims to strike a balance between transaction volume and ticket size as it navigates the post-pandemic slowdown. The company plans to maintain promotions for Black Friday appliances and seasonal garden items, but has scaled back on discounts for home improvement products.