Home Depot's Sales Edge Up Despite Sluggish 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, surpassing Wall Street's expectations of $47.24 billion.

The company reported a 1.7% increase in global sales at stores open at least a year and a 1.3% rise in comparable store sales in the US. However, customer transactions slipped 1% during the quarter.

According to GlobalData, customers spent an average of $92.50 per receipt, up from $90.01 a year earlier. The number of smaller projects undertaken increased by 1.5%, but bigger-ticket projects fell by 2.1% over last year due to concerns around financing and a lack of moving activity.

Home Depot's Chief Financial Officer, Richard McPhail, remains upbeat about the company's ability to navigate current conditions despite the sluggish housing market. The company stuck with its earlier sales growth guidance for fiscal 2026 and left unchanged its expectations that comparable sales will be flat to up 2%.