Home Depot halts downward trend in the second quarter

US market leader Home Depot has just about maintained its sales in the second quarter. With a sales volume of USD 43.175 bn (EUR 38.827 bn) in the three months to 28 July, it was 0.6 per cent higher than the corresponding figure for the previous year. This includes around USD 1.3 bn (EUR 1.2 bn) generated by SRS Distribution in the approximately six weeks since the acquisition. On a like-for-like basis, total sales for the world's largest home improvement retailer were down 3.3 per cent, and 3.6 per cent in the U. S.

According to CEO Ted Becker, higher interest rates and greater economic uncertainty have put end consumer demand under pressure. This has led to lower spending on home improvement projects.

With the slight increase in sales, Home Depot has stopped the downward trend of previous quarters. In the first quarter of the 2024/2025 financial year, sales fell by 2.3 per cent, compared…