Dive Brief:
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Home Depot executives feel pretty good about the near future of housing, telling investors on Friday that they expect sales at the home-improvement chain’s 2,200 stores to grow by 5% this year.
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That is the retailer's best showing since the recession began. The execs said the housing recovery is in “stage two,” and predicted it won’t be long until credit for home improvements, refinancing and new home purchases will be easier to get.
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Home Depot has reported positive annual sales growth every year since 2010. In 2013, its stores and online sales operation rang up $78.8 billion.
Dive Insight:
Remodeling contractors are among Home Depot’s best customers. One investment banker explained the retailer’s optimism: “People who can finally buy are buying, and a lot of those houses had to be refurbished. They’re spending more on home goods, home improvement.”