Home Depot says slowing demand comes amid ‘growing job concerns’
Global News
Home Depot says it's seeing 'significantly reduced' demand for some of its merchandise as consumers remain cautious about an uncertain economy and job market.
Home Depot says it’s seeing “significantly reduced” demand for some of its merchandise as consumers remain cautious about an uncertain economy and job market, and hold off on home building and renovation projects.
The company also expects the trend to continue through 2026.
Details about the company’s latest earnings were discussed Tuesday in a conference call with investors and analysts. Publicly traded companies, like Home Depot, are required by law to regularly report earnings to maintain transparency and accountability with shareholders.
“Housing turnover has remained at historical lows since 2023, which has significantly reduced demand for projects and other purchases associated with buying and selling a home,” said chief financial officer Richard McPhail.
“Our customers also tell us they have concerns over general economic uncertainty, including inflation, growing job concerns, and higher financing costs.”
In the three months leading up to Feb. 1, 2026, Home Depot said sales fell 3.8 per cent from the same period a year earlier. The company notes the previous year had an extra week of sales.
The vast majority of Home Depot’s more than 2,300 stores are located in the U.S., where the company is headquartered, with hundreds of locations in Canada and Mexico.
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