Home Depot Sales Get Boost from Smaller Projects Amid Slowing US Housing Market

Home Depot reported improved sales in its second quarter as customers shifted their focus to smaller projects amidst a stagnant US housing market. The company's revenue increased to $47.86 billion, surpassing Wall Street expectations of $47.24 billion.

The retailer's comparable store sales rose 1.7% globally and 1.3% in the US, while customer transactions declined by 1%. However, customers spent more per transaction, with an average receipt value increasing to $92.50 from $90.01 a year earlier.

Chief Financial Officer Richard McPhail credited the results to 'broad based demand' across the business as customers engaged in smaller projects. Despite the improved performance, Home Depot maintained its previous sales growth guidance for 2026 and left unchanged its expectations that comparable sales will be flat to up 2%.