Home Depot's sales soften in 2024 as inflation, delayed start to spring weigh on sales

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Home Depot's sales soften in 2024 as inflation, delayed start to spring weigh on sales
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Home Depot's sales continued to soften in the first quarter as the nation's largest home improvement retailer was not only constrained by high mortgage rates and higher inflation for its customers, but it also had to deal with a delayed start to spring.

A construction worker cuts wood at a residential building site in Mount Prospect, Ill., Monday, March 18, 2024. On Tuesday, April 30, 2024, the Labor Department reports on wages and benefits for U.S. workers during the first quarter of 2024. …Home Depot’s sales continued to soften in the first quarter as the nation’s largest home improvement retailer was not only constrained by high mortgage rates and higher inflation for its customers, but it also had to deal with a delayed start to spring.

Sales at store open at least a year, a key gauge of a retailer’s health, declined 2.8% globally, and 3.2% in the U.S.

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