Home Depot Cuts 800 Jobs After Q2 Sales Rise 5.7% on Smaller Projects
Updated
Updated · Fox Business · Aug 18
Home Depot Cuts 800 Jobs After Q2 Sales Rise 5.7% on Smaller Projects
3 articles · Updated · Fox Business · Aug 18
Summary
Home Depot said it will cut about 800 jobs at its Atlanta-based store support center, tying the move to a corporate restructuring.
Q2 sales still rose 5.7% to $47.9 billion, with comparable sales up 1.7%, as customers kept spending on smaller home-improvement jobs instead of larger financed renovations.
Average ticket increased 2.8% to $92.50 while comparable transactions fell 1%, pointing to fewer visits but higher spending per purchase.
Housing affordability remained a drag: July existing-home sales fell 1.7% to a 4.06 million annual rate, the median price rose 2% to $434,100, and the 30-year mortgage rate stood at 6.67%.
Despite that backdrop, Home Depot reaffirmed fiscal 2026 guidance for total sales growth of 2.5% to 4.5% and comparable sales from flat to up 2%.