Home Depot customers are spending more, but that's mainly due to inflation | CNN Business

. Earnings were better than expected, too. Now for the bad news: Home Depot reported fewer customer transactions again. The DIY leader said in its third quarter earnings report that the number of customer transactions fell more than 4% from a year ago. But those shoppers are spending more, partly due to inflation. Home Depot noted that the average customer ticket was nearly $90, up about 9% from a year ago. This is a continuation of a trend this year for Home Depot.

“Home Depot is not immune to a tightening economy,” Neil Saunders, managing director of GlobalData, said in a report. Saunders noted that the DIY customer “has cut back to save money” and that the housing market has “softened significantly.” It may only get worse, especially as the Federal Reserve seems intent on continuing to raise interest rates to fight inflation, even if that further dents the housing market.

And inflation is up 10%......yeah math

Dark Brandon owns the crying Trumpettes again.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Facebook parent company Meta is worth less than Home Depot todayMeta's stock price has collapsed dramatically this year, erasing billions from the net worth of CEO Mark Zuckerberg. Investors:
Herkunft: BGR - 🏆 234. / 63 Weiterlesen »

What to expect when Home Depot reports third-quarter earningsRetailer Home Depot will report third-quarter earnings before the bell Tuesday. That they have terrible customer service HomeDepot Record profits and stock buybacks,blaming high prices on supply chain like General Mills,Mondelez(Nabisco,Oreos)while gouging consumers
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »

U.S. retailer Home Depot leaves outlook unchanged as housing market slowsHome Depot Inc on Tuesday left its annual forecasts unchanged even as quarterly results topped Wall Street expectations, raising concerns about demand heading into the holiday season amid a slowing housing market. Fuck HomeDepot They won't speak the truth cause they have shareholders. $hd
Herkunft: Reuters - 🏆 2. / 97 Weiterlesen »