Home Depot Sees Sales Boost from Smaller Projects Amid Ongoing Housing Slump

Home Depot's quarterly sales improved during its fiscal second quarter as customers focused on smaller projects over the summer months. The U.S. housing sector remains in a slump, but this shift in spending habits helped boost revenue to $47.86 billion from $45.28 billion. This figure edged out Wall Street's expectation of $47.24 billion.

The sales increase was attributed to customers prioritizing smaller projects during the summer months, rather than larger renovation efforts. Despite the improved quarterly results, Home Depot's outlook for the rest of the year remains unchanged due to the ongoing slump in the housing market.