Home Depot reports Q2 sales are up thanks to this lingering consumer trend

Home Depot’s sales improved during its fiscal second quarter as consumers remained focused on smaller projects amid cost concerns and economic uncertainty, but its performance missed Wall Street’s expectations. Revenue for the three months ended August 3 climbed to $45.28 billion from $43.18 billion, but fell short of the $45.41 billion that analysts polled by FactSet were looking for. Sales at stores open at least a year, a key indicator of a retailer’s health, rose 1%. In the U.S., comparable store sales increased 1.4%. Customer transactions declined less than 1% in the quarter. The amount shoppers spent rose to $90.01 per average receipt from $88.90 in the prior-year period. “Our second quarter results were in line with our expectations,” Chair and CEO Ted Decker said in a statement on