Home Depot Says to Expect ‘Modest’ Price Hikes Due to Tariffs

The company’s earnings held steady as Q2 sales rose, with executives predicting only targeted, not sweeping, price increases for consumers.

A Home Depot store in El Cerrito, Calif., on Feb. 21, 2023. Justin Sullivan/Getty Images

Home Depot has announced that some of its prices will be rising because of tariff-related costs, with an executive describing the increases as “modest” and affecting only a limited number of product categories.

America’s largest home improvement retailer reported second-quarter results on Aug. 19, posting sales of $45.3 billion, up nearly 5 percent from a year earlier. Comparable U.S. sales rose 1.4 percent, while earnings came in at $4.6 billion, essentially flat compared to the same period last year.