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When you need a kind of renovation or home construction materials, you can count on your room Lowe's Or Home Depot Store to have what you need. These giant warehouses offer a wide selection and generally have nice employees ready to help or provide advice. But Home Depot was a little down this year - and things don't seem to improve yet, according to new data. Read more to find out why buyers always abandon Home Depot.

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Until now in 2023, Home Depot sales have tended to drop. In May , the retailer revealed a 4.2% drop in sales for the first quarter of the 2023 and in August , Home Depot declared $ 42.9 billion in sales for the second quarter, which represented a 2% decrease in global sales compared to the same period in 2022.

During August 15th , CEO of Home Depot Ted Decker Cited "pressure continues in certain categories of large tickets and discretionary". This was illustrated by a decrease of 5.5% in comparable transactions for products of more than $ 1,000, especially in the categories of terrace and household appliances - compared to 2022, Billy BASTEK Said the Vice-President of Home Depot Marketing.

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According to a November 14 press release Describing sales in the third quarter, Home Depot declared $ 37.7 billion in sales, which was a decrease of 3% compared to the same quarter in 2022.

According to CNBC, the latest results represent the fourth consecutive quarter where Home Depot declared a fall in comparable sales (sales at comparable stores), which fell 3.1% from one year to the next. However, the point of sale also indicated that Home Depot had beaten the expectations of Wall Street in terms of comparable sales and sales. AE0FCC31AE342FD3A1346EBB1F342FCB

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In the press release, Decker said that the results were "in line with our expectations", again highlighting the drop in big ticket purchases and that customers focus on small domestic projects.

"Similar in the second quarter, we saw a continuous commitment of customers with smaller projects and suffered pressure in certain categories of large tickets and discretionary," he said. "We remain very enthusiastic about our strategic initiatives and we are committed to investing in the company to offer the best interconnected shopping experience, capturing the portfolio share with the pro [loyalty program] and developing our store footprint."

Richard McPhail , Home Depot’s financial director, told CNBC in an interview that 2023 also represents "a period of moderation in the improvement of the house".

"A customer who could have renovated his whole house can opt for partial reshaping," he told The Outlet. "Maybe they will not refuse their whole kitchen. Maybe they will just make the counter and the backsplash. And so it's really just the drop in projects we saw."

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CNBC also highlights other problems that afflict Home Depot, including high inflation, which has made renovations and large items more difficult to sell.

Another factor is higher, but managers are not entirely sure of how it affects sales. According to McPhail, customers do not move so often and do not invest in projects in new houses. But at the same time, some undertake projects in their current homes where they have lower mortgage rates.

"We are not sure how to quantify this balance," he told CNBC. "And obviously, this is something that we will monitor when we are progressing next year."

The drop in sales this year, as well as the drop in customer transactions - which fell to 399.8 million in the last quarter, against 409.8 million in the same period last year, not necessarily surprising.

Home Depot has planned this drop due to the sharp increase in major projects undertaken during the cocovio pandemic. By aggravating this, buyers also moved to spending on experience once the world has opened.

However, with figures as they are, Home Depot has reduced its previous prospects in the full year. Previously, the company provided that comparable sales and sales drop between 2 and 5% compared to 2022, but this range has passed between 3 and 4%. In terms of profit per share, Home Depot now provides a drop of 9 to 11%, compared to the previous directives of a drop of 7 to 13%, by CNBC.

However, according to McPhail, Home Depot has confidence in its customers.

"The consumer - and in particular the consumer of owners who is our client - is in good health," he told CNBC. "They are employed. They have seen income gains and wealth gains in recent years. They have surplus savings and they remain involved in improving the house."

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