Home Depot's third quarter performance exceeded expectations, showcasing resilience amidst economic uncertainty, particularly with strong engagement in seasonal goods driven by a demand for hurricane preparations.
Despite a drop in big-ticket remodeling projects due to higher interest rates, Home Depot saw an increase in sales with $40.2 billion reported for the quarter, surpassing analyst projections.
As weather conditions improved, Home Depot experienced better sales in seasonal goods, though overall comparable sales declined only 1.3%, reflecting more stable consumer behavior than anticipated.
CEO Ted Decker highlighted the unpredictability of sales linked to seasonal trends and extreme weather, noting strong performance in four regions, driven by storm demand and seasonal maintenance investments.
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