Home Depot Sees Uncertainty Pressuring the Consumer

Home Depot released earnings today for the quarter ended in June, and it was more of the same of what we’ve been hearing from manufacturers. Despite it being the quarter that was in the heart of grilling season, there wasn’t much grill talk on their earnings call. It was more focused around the health of the consumer.

The team continues to navigate this unique environment, while executing at a high level. During the quarter, higher interest rates and greater macroeconomic uncertainty pressured consumer demand more broadly resulting in weaker spend across home improvement projects. Additionally, we saw continued softness in Spring projects, which were also impacted by the extreme weather changes throughout the quarter.