Home Depot 2023 sales 'disappointing' to date

Home Depot, citing a pullback on home improvement projects post-pandemic, reported "disappointing" first quarter 2023 sales, down 4.5%, a distinct change in fortunes for the Marietta, Georgia-based retailer.

"After a three-year period of unprecedented growth for our sector, during which we grew sales by over $47 billion, we expected fiscal 2023 would be a year of moderation for the home improvement market," Home Depot CEO Ted Decker said.

Expenditures on personal homes boomed during the pandemic as many homeowners lived, worked and studied in their households.

Founded in 1978, Home Depot — America's largest home improvement company — has more than 2,300 U.S. locations, including 37 in the Show Me State, with Poplar Bluff its lone Southeast Missouri outlet.

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