As far as ongoing tariff wars between the United States and China, Home Depot deemed the situation “manageable,” saying the recent tariffs on items like lumber and appliances would not materially affect future business growth.
The company remains focused on growing its professional homebuilder business with the hope that bolstering its delivery platform will parlay into capturing a larger portion of this home improvement market. Earlier this year, Home Depot had plans to allocate $1.2 billion during the next five years to increasing its supply chain in order to deliver products to online shoppers quicker.
“As expected, the majority of seasonal sales we missed in the first quarter were recovered in the second quarter,” said Home Depot CEO Craig Menear. “Customers continue to respond to ongoing investments and enhancements we are making in support of the customer experience.”
For more market trends, visit ETFTrends.com.