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Home Depot Sales Improve on Seasonal, Hurricane-Related Demand

Declining consumer sentiment doesn’t bode well for spending on discretionary products and services related to home improvement.
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Home Depot Sales Improve on Seasonal, Hurricane-Related Demand
Shopping carts outside a Home Depot in Philadelphia, Pa., on Sept. 21, 2022. Matt Rourke/AP Photo
Panos Mourdoukoutas
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Home Depot’s sales rose in the third quarter, driven by seasonal and hurricane-related demand amid a sluggish home-improvement environment.

This week, the world’s largest home-improvement retailer reported sales of $40.2 billion for the third quarter of fiscal 2024, a 6.6 percent rise from last year. However, comparable sales for the third quarter of fiscal 2024 decreased 1.3 percent, and comparable sales in the United States declined 1.2 percent.
Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”