Last week, we reported on Home Depot’s Q3 numbers. Sales were off 3.1 percent in the quarter compared to Q3 last year.
CEO Ted Decker told analysts that Home Depot was experiencing “pressure in certain big ticket, discretionary categories.” Purchases over $1,000 were down 5.2 percent in the quarter.
Which departments are being affected the most? Billy Bastek, Home Depot’s EVP merchandising, said that “flooring, countertops, and cabinets” were seeing “softer engagement.” Pro-heavy categories like roofing, insulation, and power tools were still showing “big ticket strength,” he said.