Home Depot Sales Rebound on Smaller Projects Amid Housing Market Slump

Home Depot reported improved sales in its fiscal second quarter as customers shifted focus to smaller projects amidst a stagnant U.S. housing market.

The company's revenue climbed to $47.86 billion, surpassing Wall Street's predicted $47.24 billion, according to a FactSet survey.

Globally, sales at stores open for at least a year rose 1.7%, while U.S. comparable store sales increased by 1.3%.

Home Depot attributed the boost in sales to 'broad-based demand across the business' as customers continued to engage in smaller projects.

The company's Chief Financial Officer, Richard McPhail, stated that the second-quarter results exceeded expectations.