Home Depot Sees Sales Boost From Smaller Projects Amid Slumping Housing Market

Home Depot's sales improved in its second quarter as customers focused on smaller projects during the summer months. Revenue increased to $47.86 billion, edging out the $47.24 billion that Wall Street had expected.

The company saw a 1.7% increase in sales at stores open at least a year, and 1.3% comparable store sales rise in the U.S.

Chief Financial Officer Richard McPhail said customers engaged in 'broad-based demand' across the business as they continued to work on smaller projects.

Neil Saunders of GlobalData noted that despite a 1.5% increase in smaller projects, the number of bigger-ticket projects remains down by 2.1%, due to concerns around financing and previous lack of moving activity.