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☆ Home Depot CEO Ted Decker: We're still looking for turn in remodeling to drive project demand
▼ + stars: | 2024-11-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHome Depot CEO Ted Decker: We're still looking for turn in remodeling to drive project demandTed Decker, The Home Depot president and CEO, joins CNBC's 'Squawk Box' after reporting quarterly results.

Persons: Ted Decker, We're Organizations: Home, Home Depot

☆ Home Depot CEO: We are looking for housing to unlock
▼ + stars: | 2024-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHome Depot CEO: We are looking for housing to unlockHome Depot CEO Ted Decker joins CNBC's 'Squawk Box' to discuss the company's most recent earnings, raised outlook, and more.

Persons: Ted Decker, CNBC's Organizations: Home

☆ Watch CNBC's full interview with The Home Depot CEO Ted Decker
▼ + stars: | 2024-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with The Home Depot CEO Ted DeckerTed Decker, The Home Depot president and CEO, joins CNBC's 'Squawk Box' to discuss the company's most recent earnings, raised outlook, and more.

Persons: Ted Decker Ted Decker Organizations: Home, Home Depot

☆ Why Home Depot made an $18.25 billion bet on the pro business
▼ + stars: | 2024-11-15 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

In both of the past two quarters, Home Depot's revenue would have fallen year over year if SRS' sales were excluded. Melissa Repko | CNBCA jolt to the businessFor Home Depot, the expansion into the pro business comes at a challenging time. With housing turnover near its lowest in decades, the pro business has also felt pressure. Grom said Home Depot's growing pro business is what helps to attract investors and set it apart from its main competitor, Lowe's . The SRS deal and the focus on pro does not mean Home Depot is abandoning efforts to jolt the rest of its business.

Persons: Melissa Repko, Ted Decker, Decker, Dan Tinker, Joe Feldman, Chuck Grom, Gordon Haskett, Group's Feldman, it's, Grom, Tinker Organizations: Texas Pool Supply, CNBC, Depot, Home Depot, Telsey Advisory, Home, Federal Reserve, Lowe's Locations: Texas, CNBC PLANO , Texas, Dallas, Atlanta, Los Angeles, U.S

☆ Store closings have hit their highest level in years. Competition and higher prices crushed them
▼ + stars: | 2024-10-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

“It kept these players alive that couldn’t survive in normal situations.”Competition from juggernauts like Amazon, Walmart, Costco, Home Depot and other big-box retailers has also squeezed smaller chains. In 2017 and 2018, retailers closed a combined 13,400 stores, according to Coresight. Retailers closed a record 9,800 stores in 2019. Around 9,700 stores closed in 2020, according to Coresight. Drug store chains are also shrinking.

Persons: —, ”, Michael Brown, Kearney, ” Brown, Barbara Kahn, Charlotte Russe, Shopko, Ted Decker, Joann Fabric, Denny’s, Kelli Valade, Justin Sullivan, Amazon’s, It’s, ” Kahn, TJ Maxx, TJX Organizations: New, New York CNN, Walgreens, Research, Companies, Consumers, “, Walmart, Costco, Home, ” Retailers, United, University of Pennsylvania’s Wharton School, Coresight, Retailers, Sears, P Global Market Intelligence, CVS, Aid, Marshalls, Aldi Locations: New York, “, Amazon, United States, Gymboree, JCPenney, Tijuana, HomeGoods

☆ Home Depot is requiring its corporate employees to do shifts at the company's stores
▼ + stars: | 2024-10-09 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Home Depot now requires corporate employees to spend one day each quarter working in a retail store. Beginning in the fourth quarter of this year, Home Depot will require corporate employees to spend a day each quarter working in a retail store to better understand what customer-facing roles entail. The policy applies to corporate employees, including senior management and remote workers. According to a memo from CEO Ted Decker, employees must complete an eight-hour shift four times a year, Bloomberg reported. If you are a Home Depot worker who wants to share your perspective, please contact Dominick via email or text/call/Signal at 646.768.4750.

Persons: —, We've, Ted Decker, Eric S, Raymond, Dara Khosrowshahi, Dominick Organizations: Software, Service, swatch, Home, Bloomberg, General Electric, Depot, Business

☆ Why we started a position tied to housing and where we see this stock going
▼ + stars: | 2024-09-12 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

We started buying Home Depot shares last week as a play on housing and interest rates. Our Home Depot investment thesis is all about a pickup in housing turnover, the main driver of the home improvement retailer's sales. When rates went below 6.5% toward the end of last year, he explained, there was an immediate increase in housing activity, mortgage applications, and mortgage refinance applications. Mortgage rates with a 5% handle could be on the horizon, at least that's what Toll Brothers CEO Doug Yearley thinks. With these numbers, it's easy to see why Decker is optimistic that activity will normalize, and housing turnover and remodel activity will pick-up again.

Persons: Ted Decker, Doug Yearley, Yearley, Decker, Lowe's, Jim Cramer's, Jim Cramer, Jim Organizations: Home Depot, Dow, Depot, Toll, Home, Management, CNBC

☆ Home Depot may need an interest rate cut to boost its sales
▼ + stars: | 2024-08-13 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

That waiting game has only intensified with a potential interest rate cut in sight. "What our customers tell their pros is, 'Everything I read tells me interest rates will be lower in three to six months,'" McPhail said. An interest rate cut could help move the needle for Home Depot as sales slow. The Federal Reserve has dropped hints that an interest rate cut could come soon. Even with an interest rate cut, Decker said, "people still might pause a little bit until some of this gets sorted out."

Persons: Richard McPhail, McPhail, Ted Decker, Jerome Powell, Decker, —, Diana Olick Organizations: Federal, CNBC, Depot, Mortgage News Locations: El Cerrito , California

☆ American homeowners are in a 'deferral mindset' with spending, says Home Depot CFO
▼ + stars: | 2024-08-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

US homeowners are doing rather well financially, but they're not ready to spend big right now. Between high prices and high interest rates, they're holding off on major purchases and projects. Home Depot's CFO characterized the moment as one of a "deferral mindset" in consumer spending. Go to newsletter preferences Thanks for signing up! "The consumer remains engaged — our consumer in particular remains quite healthy," Home Depot CEO Ted Decker said Tuesday on the company's second quarter earnings call.

Persons: they're, —, Ted Decker Organizations: Service, Business

☆ Home Depot issues a warning about the economy
▼ + stars: | 2024-08-13 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +1 min

New York CNN —Home Depot says consumers are feeling crummy about the economy, and they’re dishing out less to remodel their homes. The home improvement giant, a bellwether of consumer spending and the housing market, lowered its sales expectations for the year. It said customers were spending less on home improvement projects, pressured by higher interest rates and concerns that the economy is getting worse. Home Depot said Tuesday it expects sales at stores open at least 12 months to fall between 3% and 4% this year compared to last year. Still, Decker remained optimistic, saying “The underlying long-term fundamentals supporting home improvement demand are strong.”Home Depot’s (HD) stock fell nearly 5% in premarket trading.

Persons: they’re, Ted Decker, That’s, Decker Organizations: New, New York CNN, Depot Locations: New York

☆ Home Depot is acquiring specialty distributor SRS for $18.25 billion in huge bet on growing pro sales
▼ + stars: | 2024-03-28 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Home Depot on Thursday said it is acquiring SRS Distribution in an $18.25 billion deal, the latest and largest sign of its ambitions to drive sales by winning more business from contractors, roofers and other home professionals. The home improvement retailer expects the acquisition to close this fiscal year, which ends in late January. Home Depot already draws half of its business from pros, while the other half comes from do-it-yourself customers. It recently announced it will open four distribution centers that help support sales to pros. The acquisition comes after the home improvement retailer said last month that it expects slower sales trends to continue.

Persons: It's, Ted Decker, Leonard Green, Decker, he's, That's Organizations: Atlanta -, CNBC, Leonard Green & Partners, Berkshire Partners, HD Supply, Resources, Depot Locations: Atlanta, McKinney , Texas, U.S, Mexico, Canada

☆ Home Depot will open four distribution centers as it looks to home pros to drive sales growth
▼ + stars: | 2024-03-14 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Home Depot said Thursday that it will open four new distribution centers as it chases more sales from remodelers, contractors and other home professionals. Each facility averages approximately 500,000 square feet — about five times the size of the average Home Depot store. That gives Home Depot a lot of room to grow as it adds capabilities to handle pros' entire orders, he said. Home Depot is changing other aspects of its business to support pros who handle complex and pricey projects. He said Home Depot is trying to bring to the pro business what it once did to DIY — turn itself into a one-stop shop.

Persons: Chip Devine, Home Depot's, Devine, Ted Decker, You've Organizations: Home Depot, CNBC, Depot Locations: Detroit , Los Angeles, San Antonio, Toronto, Dallas

☆ Jim Cramer explains why it's important to look for nuance during earnings season
▼ + stars: | 2024-02-28 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer reflected on the earnings season so far, saying investors shouldn't judge stocks based purely on figures from a financial report. he said, referring to earnings season. But comments from CEO Ted Decker about the home improvement giant's inventory made Cramer optimistic. Cramer predicted that TJX would see success despite less-than-ideal earnings where management issued light guidance. "I have no illusions about this issue — It's extremely unlikely that the headline process will actually change," Cramer said.

Persons: CNBC's Jim Cramer, It's, it's, Cramer, Ted Decker, Decker, Lowe's, Marvin Ellison, Ellison Organizations: CNBC

☆ Jim Cramer says be patient and stick with Home Depot
▼ + stars: | 2024-02-21 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer told investors to hold on to stock of home improvement retailer Home Depot , even though its most recent quarter lacked luster. "Sure, the quarter wasn't great, but the conference call commentary I found encouraging, which is why I'm willing to be patient and hold on to Home Depot," he said. Cramer called management's outlook "appropriately conservative," saying the company is optimistic, but not yet ready to declare a decisive turnaround. Now that inventory is under control, the company is poised for better future, Cramer said. "Besides, I'm betting that management deliberately gave a conservative forecast—they like to under promise and over deliver at Home Depot."

Persons: CNBC's Jim Cramer, Richard McPhail, Cramer, Ted Decker's, Decker, Depot's Organizations: Home, CNBC, Home Depot, Reserve

☆ Home Depot forecasts a weak 2024
▼ + stars: | 2024-02-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +1 min

New York CNN —Home Depot, a bellwether of the housing market and US economy, said sales dropped over the winter and it’s a expecting a slow 2024. Sales at stores open for at least one year fell 3.5% last quarter, and Home Depot projects that sales will continue to decline 1% in 2024. “2023 was a year of moderation,” Home Depot CEO Ted Decker said in a news release Tuesday. Demand for home improvement has fallen due to high mortgage rates and a slowdown in new home construction. “One of the main issues [for Home Depot] continues to be a very sluggish housing market,” Neil Saunders, an analyst at GlobalData Retail, said in a note to clients Tuesday.

Persons: Ted Decker, ” Neil Saunders Organizations: New, New York CNN, Depot, GlobalData Locations: New York

☆ Home Depot CEO Ted Decker: We are operating really well
▼ + stars: | 2023-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHome Depot CEO Ted Decker: We are operating really wellHome Depot CEO Ted Decker and CNBC's Courtney Reagan join 'The Exchange' to discuss how the company is preparing for Black Friday, the state of the consumer, and more.

Persons: Ted Decker, CNBC's Courtney Reagan Organizations: Home, Black

☆ Falling prices may sound good, but deflation can be dangerous. Here’s why
▼ + stars: | 2023-11-18 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

Falling prices of commodities like copper and lumber “negatively impacted” Home Depot’s third-quarter earnings, CEO Ted Decker told investors on the company’s earnings call earlier this week. In particular, they're noticing consumers pushing off bigger-ticket purchases like appliances, which have become cheaper compared to a year ago. But the problem with deflation is that when people begin to expect lower prices in the future, they have little incentive to make purchases right now. In China, however, prices across all goods and services were 0.2% lower in October compared to the same month last year. He also warned that US-based Walmarts could enter “a deflationary environment.”Besides eggs, other cheaper goods include airfares, gasoline, appliances and smartphones.

Persons: Cathie Wood, ”, Ted Decker, Billy Bastek, ” Bastek, Justin Sullivan, Doug McMillon, Preston Caldwell, “ it’s Organizations: New, New York CNN, Tech, ARK Investment Management, Wall Street, Home Depot, Walmart, Morningstar, CNN Locations: New York, United States, China

Home Depot sales continue to slide as Americans wrestle with persistent inflation and it narrowed its outlook for the year. But the nation's biggest home improvement retailer topped expectations for the quarter. Political Cartoons View All 1244 ImagesHome Depot earned $3.81 billion, or $3.81 per share, in the quarter. Home Depot now expects a earnings per share to decline between 9% and 11% in 2023 and same store sales to fall 3% to 4%. The company previously anticipated an earnings per share drop between 7% and 13% and a same-store sales decline of 2% to 5%.

Persons: Ted Decker Organizations: Home Depot Inc, Zacks Investment Research, Atlanta - Locations: U.S, Atlanta

☆ Home Depot earnings, sales fall but beats forecast
▼ + stars: | 2023-11-14 | by ( Chris Isidore | ) edition.cnn.com time to read: +1 min

New York CNN —Home Depot reported slower earnings on weaker sales, although it still was able to beat Wall Street analysts’ forecasts. Consumers aren’t spending on home improvement projects the way they were during the pandemic. But the company said it is still seeing some strength in smaller improvement jobs, which represent a key part of its business. “We saw continued customer engagement with smaller projects, and experienced pressure in certain big-ticket, discretionary categories,” said CEO Ted Decker. Revenue slipped 3% to $37.7 billion, which was slightly better than the forecast of $37.6 billion.

Persons: “, ”, Ted Decker, Refinitiv Organizations: New, New York CNN, Wall, Revenue Locations: New York

☆ You can thank China and record US oil output for lower gas prices
▼ + stars: | 2023-11-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But the cost of crude oil has been largely declining since the middle of October. The average for a gallon of gas in the United States, meanwhile, dropped to $3.37, according to AAA. This “steady, if slow” decline in gas prices, said an AAA spokesperson, may soon gain speed if oil prices continue their descent. They’re more concerned with economic weakness in China and an increase in oil production in the United States. In the first week of November, US crude oil production reached a new record of 13.2 million barrels per day.

Persons: ” David Kelly, ”, ” David Morrison, refiners, ” Craig Erlam, Brent, Chris Isidore, “, Ted Decker, Refinitiv, Read, Homebuyers Organizations: CNN Business, Bell, New York CNN, AAA, Asset Management, Federal Reserve, Trade, China’s National Bureau of Statistics, . West Texas Intermediate, International Energy Agency, Revenue, National Association of Realtors, Census Locations: New York, Europe, Saudi Arabia, Russia, United States, China, Iran, America, United

☆ Home Depot leans on small projects to top estimates as big-ticket spending wobbles
▼ + stars: | 2023-11-14 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Americans have put big renovations and discretionary home-improvement projects on the back burner as they battle sticky inflation, higher interest rates and lingering caution around the economy. "We see great (customer) engagement... with smaller projects," CEO Ted Decker said on an earnings call. Per-share profit of $3.81 topped estimates of $3.76. "With continued pressure in certain big-ticket discretionary categories and a trend to smaller projects, HD took the conservative approach – which we agree with," Evercore analyst Greg Melich said. It now expects annual per-share profit to fall 9% to 11%, compared with a 7% to 13% slump estimated previously.

Persons: Lucy Nicholson, Ted Decker, Sarah Henry, Henry, Greg Melich, Deborah Sophia, Sriraj Organizations: REUTERS, U.S, Logan Capital Management, Home Depot, Thomson Locations: Los Angeles , California, Bengaluru

☆ Home Depot says the worst of inflation is over — that could be good news for retailers and shoppers
▼ + stars: | 2023-11-14 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Even as Home Depot forecast sales declines, the retailer had good news for investors and consumers on Tuesday. Home Depot kicked off a much-anticipated week of retail earnings that includes other household names, such as Walmart , Target and Macy's . In the short term, cooling inflation reduces sales numbers for retailers, including Home Depot. At Home Depot, McPhail has described 2023 as "a year of moderation" after the boom in home improvement during the Covid pandemic. Yet some factors that drive inflation are beyond retailers' control and influence consumers' decisions, too.

Persons: Richard McPhail, Michael Baker, Davidson, McPhail, Billy Bastek, Ted Decker, it's, doesn't Organizations: Dow Jones, Depot, Walmart, Target, Home, Federal Reserve, D.A, CNBC PRO

☆ Home Depot rides on smaller remodeling projects to top sales, profit estimates
▼ + stars: | 2023-08-15 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

REUTERS/Jim Young/File PhotoAug 15 (Reuters) - Home Depot (HD.N) on Tuesday reported a smaller-than-expected drop in quarterly same-store sales and topped profit estimates, as Americans spending on small-scale projects countered a pause in larger home remodeling and renovation work. "While there was strength in categories associated with smaller projects, we did see continued pressure in certain big-ticket, discretionary categories," Home Depot CEO Ted Decker said in a statement. Customer transactions fell for the ninth straight quarter, down 1.8% in the second quarter, but smaller than the 4.8% fall in the first quarter. Comparable sales fell 2% in the quarter, while analysts had expected a 3.54% drop, according to Refinitiv IBES data. "Whether the bottoming in the housing market would translate to sales or not - that's where there is caution from investors," Feldman said.

Persons: Jim Young, Ted Decker, Depot's, Wells, Joe Feldman, Feldman, Deborah Sophia, Sriraj Organizations: REUTERS, U.S, Walmart, Home, Advisory, Thomson Locations: Niles , Illinois, Bengaluru

☆ Watch CNBC's full interview with Home Depot CEO Ted Decker
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Home Depot CEO Ted DeckerHome Depot CEO Ted Decker sits down with CNBC's Becky Quick ahead of its investor conference to discuss the home improvement retailer's performance, his plans for the business, including how to grow when consumers are shifting spending habits from goods to experiences, and more.

Persons: Ted Decker, CNBC's Becky Quick Organizations: Home

☆ Home Depot CEO Ted Decker: We knew spending would shift from goods to services
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHome Depot CEO Ted Decker: We knew spending would shift from goods to servicesHome Depot CEO Ted Decker sits down with CNBC's Becky Quick ahead of its investor conference to discuss the home improvement retailer's performance, his plans for the business, including how to grow when consumers are shifting spending habits from goods to experiences, and more.

Persons: Ted Decker, CNBC's Becky Quick Organizations: Home

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