economy
Home Depot rides America's housing affordability problem to sales increase on home DIY projects
Home Depot’s sales improved during its second quarter as customers focused on smaller projects during the summer months with the U.S. housing sector still mired in a slump.
TL;DR
- Home Depot's second-quarter revenue rose to $47.86 billion, exceeding expectations.
- Comparable store sales increased by 1.7% globally and 1.3% in the U.S.
- Customers focused on smaller projects, leading to increased spending per average receipt.
- Larger home projects declined by 2.1% due to concerns about financing and a lack of moving activity.
- The U.S. housing market remains in a slump, with existing home sales falling and prices rising.
- Home Depot is launching nationwide express delivery, promising delivery within three hours or less.
- The company maintained its sales growth guidance for fiscal 2026.