A sign is seen posted on the exterior of a Home Depot store on February 21, 2023 in El Cerrito, California.
Home Depot topped earnings expectations on Tuesday, but posted a 2% year-over-year sales decline as customers remained wary of big purchases and major projects.
Home Depot faces a more challenging sales backdrop, as demand for do-it-yourself projects and contractors normalizes after nearly three years of unusually high demand.
"Generally speaking, the homeowner customer — who is really our customer — remains healthy and remains engaged in home improvement," he said.
Home Depot said in its earnings release that the company's board of directors approved $15 billion in share buybacks, which will take effect Tuesday.
Persons:
Richard McPhail, McPhail, " McPhail, That's
Organizations:
Wall, Transportation, Refinitiv, Revenue, Depot
Locations:
El Cerrito , California, Atlanta, U.S