With many households experiencing high financial anxiety, it’s no wonder that many are avoiding redoing their countertops. Home improvement giant Home Depot knows as much — predicting clouds ahead in its earnings report released on Tuesday.
When looking at stores open year-round, comparable sales dipped by 3.3% last quarter, while comparable sales in the U.S. dropped 3.6%. And Home Depot is buckling up to finish off a trying 2024. The company projects that sales in its stores will experience a dip in sales between 3% and 4% compared to last year. That’s a far cry from the previous estimate of a 1% drop.
