Home Depot reported a slight increase in sales to $43.2 billion for Q2 2024, with a 3.3% decline in comparable sales. The acquisition of SRS Distribution contributed $1.3 billion.
Revised guidance for fiscal 2024 includes a 3-4% decline in comparable sales and 2.5-3.5% total sales growth. Home Depot emphasizes rational promotional strategies and improved margins.
Despite challenges, Home Depot's focus on innovation over heavy discounting led to a 40 basis point improvement in gross margin. The company invests in the Pro ecosystem for growth.
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