Top Calls: Home Depot Reaffirms 2023 Guidance

The transcript discusses Home Depot's quarterly performance, highlighting better-than-expected results despite a year-over-year decline. It notes consumer caution, with a shift towards smaller projects and less big-ticket spending. The pro customer segment remains strong, though backlogs are normalizing. The discussion also extrapolates these findings to Lowe's and other retailers, suggesting similar trends in consumer behavior and spending patterns.

What was the general trend in Home Depot's quarterly results?

• They were not discussed in the transcript.

• They remained the same as last year.

• They were better than expected.

• They were worse than expected.

How did the pro customers at Home Depot perform compared to DIY customers?

• Pro customers remained relatively healthy compared to DIY customers.

• Both pro and DIY customers saw the same level of decline.

• DIY customers outperformed pro customers.

• Pro customers saw a significant increase.

What impact did the pandemic have on home improvement demand?

• It only affected DIY customers.

• It had no impact on demand.

• It led to a pull forward of demand.

• It caused a decrease in demand.

What is the expected trend for Lowe's sales compared to Home Depot?

• Lowe's is expected to have a significant decline.

• Lowe's is expected to have higher sales.

• Lowe's sales are expected to trend similarly to Home Depot.

• Lowe's will not be affected by the same trends.

Which type of spending is expected to be prevalent at Target and Walmart?

• Essential goods spending

• Big-ticket discretionary spending

• Luxury goods spending

• Grocery spending