The pandemic may be receding, but demand for home improvement goods is not. Home Depot reported that comparable sales surged nearly 30% in the first quarter. Customers are spending more on bigger projects, both online and in stores. Chief Merchandising Officer Ted Decker said that the results were similar to those of the previous three quarters, when the coronavirus pandemic caused a spike in home improvement projects. CEO Craig Menear called the demand "unprecedented."
Executives pointed to "unprecedented levels of web traffic," as well as strong in-store sales. CEO Craig Menear said that Home Depot was navigating an "unprecedented demand environment."