Home Depot’s sales rose in the third quarter, driven by seasonal and hurricane-related demand amid a sluggish home-improvement environment.
This week, the world’s largest home-improvement retailer reported sales of $40.2 billion for the third quarter of fiscal 2024, a 6.6 percent rise from last year. However, comparable sales for the third quarter of fiscal 2024 decreased 1.3 percent, and comparable sales in the United States declined 1.2 percent.
That’s an improvement from the second fiscal quarter of 2024, when the company reported a 3.3 percent decrease over the previous year, with comparable sales in the United States dropping 0.6 percent from the second quarter of fiscal 2023.
Meanwhile, management updated its guidance for fiscal 2024, seeing a mixed picture in an uncertain economic environment. Total sales will increase by approximately 4 percent, and comparable sales likely will decline by approximately 2.5 percent for the 52-week period compared to fiscal 2023….