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Cooling home improvement demand may pressure Home Depot, Lowe’s 2022 sales

Home Depot Inc and Lowe’s Cos Inc may warn of a slowdown in 2022 sales when they report their quarterly results next week to reflect a potential cooling in the U.S. housing market and a rapid rise in inflation. “We expect moderation throughout 2022 to a point where demand is likely at best flattish year-over-year by the back half of the year, and that’s on the back of a slowing housing market and consumer confidence,” Wedbush Securities analyst Seth Basham told Reuters. After two years of robust sales growth, thanks to pandemic-driven demand for tools, paint and gardening equipment from stuck-at-home Americans, both companies are expected to forecast full-year sales growth near levels they saw before the pandemic.

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