Home Depot CEO thinks folks aren't buying enough of their stuff [View all]

[Yo_Mama_Been_Loggin]

Home Depot issues a warning about the economy

New York
CNN
—
Home Depot says consumers are feeling crummy about the economy, and they’re dishing out less on major home renovation projects.

The home improvement giant, a bellwether of consumer spending and the housing market, lowered its sales expectations for the year. It said customers were spending less on home improvement projects, pressured by higher interest rates and concerns that the economy is getting worse.

Home Depot’s business is closely tied to the housing market, and high interest rates are putting a brake on housing turnover and consumers financing larger projects.

“During the quarter, higher interest rates and greater macro-economic uncertainty pressured consumer demand more broadly, resulting in weaker spend across home improvement projects,” Ted Decker, Home Depot’s CEO, said in a news release.

https://www.cnn.com/2024/08/13/investing/home-depot-earnings-housing/index.html

Isn't their CEO a RWNJ?