Fortune

Home Depot CEO Flags a Disconcerting Lack of Faith in the American Economy: ‘Our Customers Are Telling Us that They’re...

Home Depot reported a 13% drop in Q4 net earnings to $2.6 billion as a stalled housing market curtails home‑improvement spending. CEO Ted Decker said consumers lack confidence, delaying large projects despite low mortgage rates and ongoing price cuts in new homes. The retailer projects modest 2.5‑4.5% sales growth for FY2025, plans to open 15 new stores, and is considering price reductions. Recent layoffs and a mandatory return‑to‑office policy reflect cost‑containment efforts amid uncertain macro conditions.