Home Depot Reports Stronger Sales As Smaller Home Projects Offset Renovation Pullback

Source: International Business Times

Home Depot has increasingly focused on expanding its professional business as consumers delay discretionary remodeling projects. Professional customers now account for roughly half of the company’s revenue. Brandon Bell/Getty Images Home improvement retailer Home Depot reported stronger-than-expected quarterly sales as homeowners continued spending on repairs and smaller projects despite higher gas prices, stubborn mortgage rates and declining consumer confidence tied to ongoing geopolitical tensions.