The Washington Post on Nostr: Home Depot warns of consumer uncertainty about the economy ========== Home Depot ...
Home Depot warns of consumer uncertainty about the economy
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Home Depot predicts a 3 to 4 percent decline in sales at stores open for at least a year due to consumer uncertainty and elevated interest rates; Anxiety about the economy has held back consumer spending; Worries over finances and reluctance about taking on mortgages at current interest rates have weighed on consumers; Sales related to larger discretionary projects have fallen as consumers continue to shift spending from goods to services; Home Depot reported a 1.8 percent decline in customer transactions and a 3.6 percent decline in sales per retail square foot; Comparable sales for items over $1,000 were down almost 6 percent; Home Depot does not plan to lower prices but is focusing on offering innovation and value to attract customers
#HomeDepot #ConsumerSpending #Economy #InterestRates #Sales #DiscretionaryProjects
https://www.washingtonpost.com/business/2024/08/13/home-depot-consumer-economy/
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Home Depot predicts a 3 to 4 percent decline in sales at stores open for at least a year due to consumer uncertainty and elevated interest rates; Anxiety about the economy has held back consumer spending; Worries over finances and reluctance about taking on mortgages at current interest rates have weighed on consumers; Sales related to larger discretionary projects have fallen as consumers continue to shift spending from goods to services; Home Depot reported a 1.8 percent decline in customer transactions and a 3.6 percent decline in sales per retail square foot; Comparable sales for items over $1,000 were down almost 6 percent; Home Depot does not plan to lower prices but is focusing on offering innovation and value to attract customers
#HomeDepot #ConsumerSpending #Economy #InterestRates #Sales #DiscretionaryProjects
https://www.washingtonpost.com/business/2024/08/13/home-depot-consumer-economy/