Good Lifestyle

Domiciliary renovation retailers are used to seeing an influx of buyers in stores during the hottest months. In the spring, you have owners looking for good products to give their space an essential refreshment, and when summer warms, these same buyers could look for air conditioners and fans to keep cool. But Home Depot did not see his usual participation rate in the spring, and now he seems to have missed the rush around summer too. The data seem to show that buyers abandon Home Depot - Read on to find out why.

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In May, Home Depot revealed a 4.2% decrease In sales of the first quarter of the year 2023. And now the retailer shares that the trend has continued.

In a August 15 press release , Home Depot said sales of $ 42.9 billion for the second quarter. Compared to the same period for the 2022 financial year, this represents a 2% drop in overall sales for the company.

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Comparable sales of Home Depot for the second quarter, and in its American stores, both have also decreased by 2%. This was probably motivated by a drop in customer transactions. Compared to the first six months of 2022, Home Depot experienced 3.2% of less customer transactions for the first six months of 2023. AE0FCC31AE342FD3A1346EBB1F342FCB

In a August 15th With analysts, CEO of Home Depot Ted Decker said the retailer continues to see "pressure in certain categories of large tickets and discretions". According to Billy BASTEK , Vice-President of Home Depot Marketing, comparable transactions for products over $ 1,000 fell by 5.5% this quarter, compared to the second quarter of the 2022 fiscal year.

"After three years of unprecedented demand on the home improvement market, we continue to see a softer commitment in discretionary categories of large tickets such as the patio and the devices that probably reflect these purchases and departure To a single article, "said Bastk.

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However, buyers do not completely abandon Home Depot. Instead, Decker told analysts that customers seem to be involved with the improvement of the house in terms of projects "generally smaller in scale and in range" at the moment. Home Depot sees strength in small projects in the categories "Goods, hardcapes and landscapes" live, according to Bastk.

The overall drop is something CFO Home Depot Richard McPhail warned earlier this year in an appearance on CNBC, saying that many owners have drawn from more expensive purchases Because they made these greater purchases during the pandemic, they reported them due to higher interest rates.

"The owner's condition is that they are in very good health," McPhail told CNBC in May. "They have healthy balance sheets. They have healthy income. But I think - and our professional customers tell us that they hear this of their customers - there is this change, even if it is temporary of larger projects in smaller projects. "

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Despite a drop in sales, Home Depot exceeded Wall Street expectations In the second quarter of the 2023 fiscal year, the Associated Press reported.

"We were satisfied with our performance in the second quarter," said Decker in a statement accompanying the company's press release. "We remain very positive on long -to -date long -term prospects for improving the house and our ability to increase the share on a large and fragmented market. Our partners have done exceptional work offering a value and service to our customers Throughout the quarter, and I would like to thank them for their dedication and their hard work. "

During the call for results, Bastk said that the company is also "extremely excited" about some of its new plans for the products it will have in stock and available for customers.

"This fall, we are delighted to develop our range of taps to include innovative features, such as touch and spring neck conceptions, add to our assortment of sink and shower potatoes, while developing in New categories such as eliminations, "he told analysts.

Bastk added that Home Depot is also on Its range of Halloween , which includes an extended assortment of fans favorites as well as new collections.

"These products bring excitement to our stores and help generate traffic," he noted.