Home Depot snaps its epic losing streak
CNN
Home Depot is growing again.
Home Depot is growing again. America’s largest home improvement retailer said Tuesday that sales at stores open for at least a year grew 0.8% last quarter, snapping eight straight quarters of sales declines. Home Depot also sounded an upbeat forecast for 2025, saying sales at stores open at least a year would grow by 1%. Home Depot’s stock (HD) rose around 4% during early trading Tuesday. It’s an encouraging sign for consumer spending on their homes and big-ticket purchases. Home Depot is bellwether of the US housing market and the economy. “The fact that US comparable sales are back in the black after declining for eight quarters or two years is a very clear win for Home Depot,” said Neil Saunders, an analyst at GlobalData Retail. Home Depot’s business is closely tied to the housing market, and high interest rates have put a brake on housing turnover and consumers financing larger projects.
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