While Property Depot’s 2nd-quarter earnings and income topped forecasts on Tuesday morning, a couple stats were being regarding: For instance, identical-retailer revenue development, which steps how properly places up at minimum a calendar year are executing, rose just 3.4% in the US.
Which is a significant dropoff from the to start with quarter and beneath analysts’ estimates.
What is actually additional, less people today ended up procuring in Property Depot outlets this quarter. The business described 481.7 million buyer transactions, down practically 6% from the similar period a 12 months ago.
The great information for Dwelling Depot is that consumers are paying more on better-priced products. The common customer ticket rose 11% from a yr ago, and income per sq. foot also rose from past calendar year.
Even so, Home Depot CEO Craig Menear pointed out in the firm’s earnings launch that this is a “dynamic and hard environment” for the company.