According to Realtor.com, Home Depot’s outlook is optimistic, with the company predicting that sales will grow as more homeowners stop putting off home improvement projects.
For the full year ahead, the company said it predicts total sales to grow by 2.8% as consumers will tackle home projects.
“Appliances and our gift center business, which had record sales,” are a big driver, says Bill Bastek, Home Depot’s executive vice president of marketing.
It also expects comparable sales, which take out the impact of one-time factors like store openings and calendar differences, and are also known as “same store” sales, to increase by about 1%.
In its fourth-quarter earnings call for fiscal 2024, sales were $39.7 billion, an increase of $4.9 billion, or 14.1% from the fourth quarter of fiscal 2023. (The quarter had one more week than it did in 2023.)
