
America’s obsession with renovating homes is finally coming to an end.
the trend that took over during the pandemic-triggered lockdown is now fading away, thanks in part to volatile economic conditions. The shift has started to impact companies such as Home Depot, one of the largest retailers in the US, which reaped the benefits of the trend over the past few years.
Americans’ love for improving homes helped Home Depot’s revenue climb to a record $160 billion for the quarter ended on Jan. 31, 2023—up from $70 billion for the same period in 2008-2009.
But things are shaping up differently now. For the first time since 2009, Home Depot’s executives suspect a drop in its annual sales as they did observed that people are spending less on renovations and power tools.
“We saw more pressure across the business






