The Home Depot, Atlanta, Ga., a home improvement retailer, reported sales for its fiscal 2023 second quarter were $42.9 billion, down 2% from the prior-year period.
Net income for the quarter was $4.7 billion, down 9.6% from the prior-year period.
Home Depot reported that Pro sales were slightly negative and were outpaced by the DIY customer.
“While surveys suggest that pro backlogs are lower than they were a year ago, they’re still healthy and elevated relative to historical norms,” said Ted Decker, CEO.
“We were pleased with our performance in the second quarter. While there was strength in categories associated with smaller projects, we did see continued pressure in certain big-ticket, discretionary categories.”