In the latest quarter, comparable sales—a measure that adjusts for stores opening and closing—grew 4.5%, after four consecutive quarters of more than 20% growth. The types of projects generating business for the company are evolving, Home Depot executives said. When consumers retreated to their homes last summer during the pandemic, sales for those products surged as people invested more time and money in sprucing up their properties. Walmart Inc. on Tuesday also posted slower sales growth in its latest quarter, and late last month Amazon.com Inc. reported slowing e-commerce sales growth. Home Depot’s total sales of $41.12 billion for its fiscal second quarter were up from $38.05 billion a year earlier.

Source: Mint August 17, 2021 17:26 UTC