North America’s Largest Woodworking Event | Tuesday–Friday | August 6–9, 2024


Industry & Trends

Why the Home Depot Results Are Good for the Home Improvement Category

Even though its sales for the most recent quarter were slightly down, there were many positive things in Home Depot’s second quarter earnings results.

If there is one retailer most closely followed by those in the lumber and wood products sectors it is Home Depot. So, its second quarter results, released last week, were studied for signs of strength in the overall home improvement business. And while there were still some red flags in its numbers, they were smaller and perhaps a little less red as indicators of what’s going on in the economy.

While reporting earnings that beat analyst estimates Home Depot did see same-store sales fall 2%. That’s less than was expected but more importantly the big box retailer continued its guidance for the full year, a reassuring forecast for those who are worried the housing and home improvement sectors are going to continue to get worse before they get better.

“We remain very positive on the medium-to-long-term outlook for home improvement,” said Ted Decker, president and CEO of the giant company. Decker said while some “big-ticket, discretionary categories” continued to show softness, “there was strength in categories associated with smaller projects.” That would seem to indicate that the DIY customer is still out there and doing home improvement jobs while bigger, builder-led spending remained challenged.

Home Depot’s big competitor, Lowe’s, was expected to release its earnings as IWF Network News was being posted.


More Industry & Trend News

  • Whatever Happened to the Interest Rate Cut?

    June 19, 2024

  • Baltimore Harbor’s Shipping Channel Has Reopened: Now What?

    June 19, 2024

  • Home Builders Institute Opens Training Academy in NC

    June 19, 2024

Register to Attend

Be part of North America’s largest woodworking show and conference.

Register Now

Apply to Exhibit

Grow your business at the premier global woodworking trade show.

Exhibit at IWF 2024

Show Hours & Location

International Woodworking Fair
August 6–9, 2024

8:30 AM–5:00 PM*
8:30 AM–2:00 PM*

*Building A opens 7:30 AM Tue-Fri

Georgia World Congress Center
285 Andrew Young International Blvd
Atlanta, GA 30313

Get Industry News & IWF Updates

Subscribe to IWF Network News.

Subscribe Now

Terms & Privacy Policy

© 2020 International Woodworking Fair, LLC Terms of Use & Privacy Policy

3520 Piedmont Rd NE #350, Atlanta GA 30305 | (404) 693-8333


Have questions about IWF? Check out our new AI chatbot and get info fast!

To get started, set your chat preference. Then click on the chat bar that appears in the lower right corner. Are you an Attendee or an Exhibitor?

Attendee Exhibitor

No Thanks

IWF 2024 Add to Calendar

Sync IWF 2024 with your favorite calendar program.

Notification Message

loading … please wait

Have Questions?

First let’s set your chat preference. Then, just click on the chat bar that appears. Are you an Attendee or an Exhibitor?

Attendee Exhibitor