You might have woken up on Tuesday to headlines about The Home Depot’s shares falling, but there’s more to the story.
While its shares fell nearly 5% due to a 5.8% drop in customer transactions, Ethan Chernofsky, VP of marketing at Placer.ai, told Retail Brew this is hardly cause for concern.
“The home improvement sector saw such an insane surge that it was almost by definition going to see some sort of return to normalcy,” he said. “Home Depot and Lowe’s both are seeing visits still significantly higher than they were in 2019.”
By the numbers: The home improvement companies