Home Depot’s customers have been resilient despite economic headwinds, CEO says

Home Depot’s customers have been resilient despite economic headwinds, CEO says


Home Depot's customers have been resilient despite economic headwinds, CEO says

Home Depot’s business has remained strong even as turbulent economic conditions pinch consumers’ wallets, CEO Ted Decker told CNBC’s Jim Cramer on Friday.

His comments were in response to Cramer questioning him about whether he has seen the same signs of recession that FedEx CEO Raj Subramaniam warned of on Thursday’s “Mad Money.”

“Our consumer, our customer, pro and DIY have been resilient,” Decker said.

The company last month reported earnings and revenue that beat Wall Street expectations in its latest quarter and cited healthy project backlogs despite a weakening housing market and persistent inflation.

“Our customer tends to have strong income. They tend to be homeowners. And guess what, they’re spending more time in that home, and that home’s aging,” Decker said.

He acknowledged that the seasonal aisle has seen some softness, even though the project business has held steady.

“It’s hard for us — is that a demand signal because of the weather? We had a tough spring,” Decker said. “Or is it a reaction to pricing or an uncomfort level with the economy? It’s hard to tease that out.”

However, the chief executive maintained that Home Depot remains confident about its trajectory. “We couldn’t be more bullish,” he said.

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing at no cost to help you build long-term wealth and invest smarter.



Source

Space startup Varda raises 7 million in funding to make drugs in orbit
Business

Space startup Varda raises $187 million in funding to make drugs in orbit

Pavlo Gonchar | Lightrocket | Getty Images Space startup Varda announced on Thursday that it has raised $187 million in Series C funding, led by venture capital firms Natural Capital and Shrug Capital, to continue advancing drug manufacturing in space. The latest round included participation from Peter Thiel, Lux Capital, Khosla Ventures and Caffeinated Capital. […]

Read More
How family offices are betting on the sports boom from fantasy apps to pickleball courts
Business

How family offices are betting on the sports boom from fantasy apps to pickleball courts

Key Points A third of investment firms of the ultra-rich have invested in sports, according to a new family office survey by BNY Mellon. While billionaire sports-team buyouts get the headlines, family offices are increasingly investing in adjacent assets like live-viewing venues and betting apps. Here’s how the family offices of ultra-rich sports team owners […]

Read More
Delta’s summer travel outlook tops estimates as CEO says high-end demand is holding up
Business

Delta’s summer travel outlook tops estimates as CEO says high-end demand is holding up

A Boeing 767-332(ER) from Delta Air Lines takes off from Barcelona El Prat Airport in Barcelona on Oct. 8, 2024. Joan Valls | Nurphoto | Getty Images Delta Air Lines trimmed its 2025 profit forecast as it deals with lower-than-expected demand this year and the industry manages a glut of flights, but the carrier’s outlook […]

Read More