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A Home Depot bucket at a Home Depot store in Hercules, California, on Feb. 22, 2021.
David Paul Morris | Bloomberg | Getty Images
Home Depot on Tuesday said quarterly sales declined nearly 3% year over year, but it surpassed Wall Street’s earnings and revenue expectations despite the cooler demand.
On a call with CNBC, Chief Financial Officer Richard McPhail said demand dipped throughout the year as consumers returned to more typical spending patterns. He added that falling lumber prices and rising interest rates hurt the business.
Home Depot now sees a chance to return to growth, McPhail said.
“Our market is on its way back to normal demand conditions,” he said. “We’re not quite there yet,…
Source cnbc.com
