loving company suffering under his economy because of the A
Alternet • • business
Key Points:
- Home Depot reported a 4.4% decline in net earnings for fiscal year 2024, dropping to $14.8 billion, largely due to a struggling housing market impacted by high mortgage rates and increased home prices since 2019.
- The company lost 800 jobs in January, affecting its state headquarters in Georgia, a key swing state, highlighting the broader economic challenges tied to the housing sector.
- CFO Richard McPhail cited low housing turnover and economic uncertainty, including inflation and job concerns, as factors reducing demand for home improvement projects, with these pressures expected to continue into fiscal 2026.
- CEO Ted Decker noted that customers are delaying major home investments because they feel trapped in their current homes amid economic conditions, and
