Good Lifestyle

Everywhere, prices remain stubbornly, which makes us all tighten our belts where we can. Consumers reduce non-subscessions and expenses Less shopping time , and retailers certainly feel this change. Home Depot, in particular, experienced a drop in sales to Several quarters now - And it does not seem that 2024 left hot. In fact, the latest data show that buyers always abandon Home Depot.

In relation: Buyers abandon the general dollar and the family dollar - this is why .

Home Depot shared the results of the first trimester of this year's exercise in a May 14 Press release . During the quarter, which ended on April 28, sales totaled $ 36.4 billion, marking a drop of 2.3% compared to the first quarter of 2023.

Comparable sales of Home Depot (sales with comparable stores) were down for the sixth consecutive quarter. Customers simply did less purchases: as CNBC reported, buyers Make fewer trips At Home Depot during the first quarter - and when they visited online or in person, they did not pass as much.

In the press release, Ted Decker , The president, president and chief executive officer of Home Depot, cited "continuous sweetness in certain larger discretionary projects" and the "beginning delayed to come out" for the decline.

As a general rule, spring is the most frequented for home renovation retailers like Home Depot, but thanks to colder weather for longer, customers have not been so quick to spend for outdoor purchases, the Home Depot financial director Richard McPhail said to CNBC.

Bloomberg news team leader John J. Edwards III also noted different " macro-factor “Impactor Home Depot, including inflation and comparisons with the strong performance of the company during the cocovio pandemic. AE0FCC31AE342FD3A1346EBB1F342FCB

According to Edwards, buyers "bought large items to improve their homes in which they were stuck" during the pandemic. But now that they already have these big articles - which are not old enough to be replaced - they do not need new Home Depot.

In relation: Costco buyers abandon these Kirkland products: "Party in descent".

The situation of Home Depot is still aggravated by higher interest rates. Not only are higher rates make people more difficult for people to finance larger projects, but they also make them stay in their current homes rather than moving. According to CNBC, people are generally more inspired to invest in projects in a new home.

However, McPhail said that the home improvement customer was "extremely healthy from a financial point of view". In reality, they have money to spend, but they "differ" due to higher rates and expect a more timely moment.

"When we found that mortgage rates will decrease slightly, as we saw at the start of this quarter, housing turnover seems to react quickly and strongly in a positive direction," McPhail told CNBC. "And we therefore think that it is an indicator that there is a huge amount of repressed request for household training and the turnover of the accommodation and the more important projects that are associated with the turnover of the housing housing . "

Although the total revenue of the retailer did not meet expectations, he beat Wall Street's profits, according to CNBC. For the rest of the 2024 exercise, the company sticks to its advice, hoping to increase sales by opening up additional stores and improving the shopping experience.