{"id":2001193,"date":"2023-08-15T12:09:01","date_gmt":"2023-08-15T16:09:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/home-depot-rides-on-smaller-remodeling-projects-to-top-sales-profit-estimates\/"},"modified":"2023-08-15T12:12:19","modified_gmt":"2023-08-15T16:12:19","slug":"home-depot-rides-on-smaller-remodeling-projects-to-top-sales-profit-estimates","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/home-depot-rides-on-smaller-remodeling-projects-to-top-sales-profit-estimates\/","title":{"rendered":"Home Depot surpasses sales, profit estimates with focus on smaller remodeling projects."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhome-depot-rides-on-smaller-remodeling-projects-to-top-sales-profit-estimates%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2001193&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Home Depot Posts Better-Than-Expected Quarterly\u2064 Results<\/h2>\n<p>By Deborah Mary Sophia<\/p>\n<p>(Reuters) &#8211; Home\u200c Depot announced its quarterly results today, exceeding \u2062expectations. Despite\u200d a decrease in larger remodeling and renovation projects, Americans continue to spend on\u200b small-scale home improvement projects. \u200d <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Shares \u2062of \u200dthe company \u2064rose about\u200c 1% after the announcement. The \u200dsecond quarter saw a recapture of seasonal sales lost earlier this year due to a slow start to Spring. \u2064 <\/p>\n<p>Investors are now eagerly awaiting\u200d reports from Walmart and \u2063Target later this week, \u2064as they focus on\u200b <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/home-depot-rides-on-smaller-remodeling-projects-to-top-sales-profit-estimates\/\" title=\"Home Depot surpasses sales, profit estimates with focus on smaller remodeling projects.\">discretionary spending trends\u2063 amidst sticky inflation<\/a> and higher borrowing\u200b costs.<\/p>\n<p>Home Depot&#8217;s quarterly customer transactions drop of 1.8% improved from the prior quarter,\u2062 driven by\u2063 higher sales of plants,\u2064 landscaping supplies, and steady demand from Pro-customers for products\u2063 like \u2062fasteners and insulation.<\/p>\n<p>The company has maintained its annual forecasts after cutting them in May. <\/p>\n<p>CEO Ted Decker \u200dstated, &#8220;While there&#8217;s a lot of positives in the macro \u200band with the consumer, we still see enough uncertainty, \u2062largely driven by consumer spending\u2063 shifting from goods to services, to not revise our \u200bguidance.&#8221;<\/p>\n<p>According\u2063 to Refinitiv IBES data, quarterly comparable\u200b sales fell \u20642% in the second quarter, smaller than expectations for a 3.54%\u2062 drop. The company&#8217;s per-share profit of $4.65 also topped estimates of\u200c $4.45.    <\/p>\n<p>Big-ticket transactions, or those over $1,000, remained under pressure, declining 5.5%. Demand for one-time purchases like\u200c patio furniture and large appliances was soft, said Billy\u2064 Bastek, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/flashback-former-ag-barr-initiated-spying-program-on-americans-back-in-1992\/\" title=\"FLASHBACK: Former AG Barr Initiated Spying Program on Americans Back in 1992\">executive vice president<\/a> of merchandising.<\/p>\n<p>Despite these challenges, there are signs of improvement in the housing\u200c market. New home sales \u200cjumped 12.2% in May\u2064 to the highest level in nearly 1-1\/2 years, while new home \u2063construction surged by the most \u200din over three \u200ddecades.<\/p>\n<p>Analyst Joe Feldman from Telsey\u2063 Advisory Group expressed\u2062 caution, stating, &#8220;Whether the \u2062bottoming in the housing\u200d market would translate to \u200bsales or not \u2013 \u200dthat&#8217;s\u200d where there is caution\u200d from investors.&#8221;<\/p>\n<p>Reporting by Deborah Sophia in Bengaluru; Editing by\u200d Sriraj \u200bKalluvila<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/home-depot-rides-on\/attachment\/file-photo-a-shopping-cart-is-seen-in-a-home\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Parental and Transgender Children&#8217;s Rights\u2064 at the Center of a Grassroots \u2063Fight \u2062in New Jersey<\/h3>\n<p>A grassroots fight over parental and transgender \u2062children&#8217;s\u200b rights is brewing \u2063in New Jersey. One America&#8217;s Caitlin Sinclair has more.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Grand \u200bJury May Indict\u200b Trump in Georgia<\/h3>\n<p>A\u200c Grand Jury may be indicting Trump in \u2063Georgia, while developers \u2062could be trying \u2063to cash in on the recent Hawaii fire.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Criminal Charges Against\u2064 Donald Trump Briefly\u2064 Appear on Fulton\u200c County\u2064 Website<\/h3>\n<p>A list \u2063of criminal\u2063 charges in Georgia against 45th President \u2062Donald\u2063 Trump briefly appeared Monday \u2064on\u200b a Fulton\u200b County website but the charges were promptly removed.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Mob of Robbers Captured Inside Popular Los Angeles Mall<\/h3>\n<p>Shocking video captured\u2062 a \u200dmob of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/la-video-captures-mob-of-criminals-robbing-nordstrom\/\" title=\"LA: Video shows gang robbing Nordstrom\">robbers inside<\/a> a very <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/l-a-video-captures-mob-of-criminals-robbing-nordstrom\/\" title=\"Video shows gang robbing Nordstrom in L.A.\">popular mall<\/a> in Los Angeles.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>FBI Warns of Potential\u2062 Cyber Attacks on U.S. Infrastructure<\/h3>\n<p>Nebraska Republican Congressman Don Bacon said late on Monday \u2063the FBI\u200d had warned&#8230;<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Ola Electric Launches \u2063Affordable Electric Scooters in India<\/h3>\n<p>Ola\u2062 Electric, India&#8217;s largest maker of electric scooters,\u2062 launched its most affordable&#8230;<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Livestream Sales \u2063Hosts Thrive in \u200bChina&#8217;s E-commerce Boom<\/h3>\n<p>Only a few months after beginning her career as a livestream sales host in January, Zhang&#8230;<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Sea \u200cLtd to \u200dBoost Investments in\u2063 E-commerce Business<\/h3>\n<p>Technology \u2064firm Sea Ltd signaled on\u200b Tuesday it will \u200dboost investments in its core e-commerce \u2062business\u200b which may&#8230;<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>quarterly results exceeding expectations. Home Depot&#8217;s success can be attributed to Americans&#8217; consistent spending on small-scale home projects, despite reducing larger remodeling and renovation expenses. Additionally, the company&#8217;s announcement of a $15 billion share repurchase program led to a 1% increase in its shares.<\/p>\n","protected":false},"author":66,"featured_media":2001194,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2001193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2001193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2001193"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2001193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2001194"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2001193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2001193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2001193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}