Is This Home Improvement Stock a No-Brainer Hold for 2024?
Home Depot (NYSE: HD) has long been a mainstay of the home improvement business, offering all kinds of products and services for a wide spectrum of customers. That includes everyone from weekend DIY warriors to professional contractors. And that's also evolved to include both in-store and online sales -- aiming to give customers the most convenient options.
It's been a winning formula, and the home improvement giant's history of robust results might make it seem like a no-brainer choice for shareholders. Still, it's always a good idea to review the latest results to see if this retail giant remains a smart bet in the ever-shifting home improvement market.
In the realm of retail, two critical metrics often dictate success: the average ticket size (the average amount customers spend per transaction) and the number of transactions. During the COVID-19 pandemic, Home Depot witnessed a surge in both metrics. CEO Ted Decker noted in the recent earnings call that the company saw a 25% increase in comparable store sales (comps), a key indicator of retail health during that time.
Source Fool.com
