Menear recounts Depot's top sellers
What categories did well at Home Depot in the third quarter? Take your pick.
All merchandise departments posted positive comps, Craig Menear told analysts during yesterday's earnings call. Even those that fell below the company average -- millwork, flooring, pluming, outdoor garden, building materials, hardware and tools -- still performed positively.
"Strength in the core of the store, the continued resurgence of our pro customers and mild temperatures helped us overcome difficult comparisons cycling last year's storm-related sales," Menear said.
Receiving special mention for third-quarter performance was the company's enhanced appliance showroom plan, a reset that began last year and is yielding double-digit growth for appliances both in-store and online. The plan involves localized assortments in 400 stores that showcase an expanded assortment.
Home Depot executives were happy to report gains with pro customers. Menear pointed to double-digit comps in the following categories: gypsum, concrete, pressure treated lumber and mouldings.
Total transactions in the quarter grew by 4%, he said. Average ticket increased 3.2%
The numbers also show customers digging deeper into their pockets. Transactions for tickets over $900 were up 10.3% in the quarter. That growth was credited to strength in pro sales, appliances, HVAC, countertops and in-stock kitchens, Menear said.
Across the store in the third quarter, the following categories were selling at above-average pace: kitchens, lighting, decor, lumber, electrical, indoor garden, paint and bath.
In the fourth quarter, Home Depot has high expectations for its Nest Protect smoke and carbon monoxide detector, Menear said. The stores will also promote the Kevo BlueTooth Deadbolt from Kwikset and True White LED bulbs from Cree.
