Home Depot Faces Fifth Quarter of Sales Decline Amid Housing Market Challenges

Despite a challenging year, the retailer forecasts a slight improvement in 2024, with plans to expand its store network.

Home Depot reports a fifth consecutive quarter of sales decline, reflecting ongoing challenges in the housing market due to high mortgage rates and a slowdown in construction.
Despite the downturn, Home Depot forecasts a modest improvement in sales for 2024, expecting a 1% decline in comparable sales.
The company continues to see strong demand for small home improvement projects, even as consumers defer larger, big-ticket purchases.
Analysts remain optimistic about Home Depot's long-term success, citing a potentially rebounding industry environment and solid homeowner spending power.
Home Depot plans to open 80 new stores over the next five years, targeting areas with robust population growth or high demand.