US EditionHome Depot’s sales improve as customers stay focused on smaller projects
Home Depot will raise prices on some items due to increased import tariffs, with nearly half of inventory sourced internationally, CFO Richard McPhail said after Q2 results.
- Home Depot said Tuesday it will raise prices on some items to offset costs from the Trump administration’s import tariffs, CFO Richard McPhail noted.
- In a Wall Street Journal interview, CFO Richard McPhail noted tariff rates on some imports are significantly higher than three months ago.
- The company noted a little less than half of Home Depot’s inventory comes from suppliers outside the United States, with modest price movement expected in some categories.
- Amid the tariff-driven price hikes, Home Depot reassured tariffs will not trigger broad consumer price hikes and noted it limits any foreign country's supply to 10% of goods.
- Three months ago, Home Depot said it would not speculate on price plans amid tariffs, and President Donald Trump last week delayed higher U.S. tariffs on Chinese goods for another 90 days.
45 Articles
45 Articles
Home Depot Says to Expect ‘Modest’ Price Hikes Due to Tariffs
Home Depot has announced that some of its prices will be rising because of tariff-related costs, with an executive describing the increases as “modest” and affecting only a limited number of product categories. America’s largest home improvement retailer reported second-quarter results on Aug. 19, posting sales of $45.3 billion, up nearly 5 percent from a year earlier. Comparable U.S. sales rose 1.4 percent, while earnings came in at $4.6 billio…
Some prices to rise at Home Depot despite earlier stance, CFO says
(NEXSTAR) – Three months ago, Home Depot said it didn't expect to raise prices, claiming that its ability to diversify its sources would help it dodge tariffs. That's about to change, at least for some items. CFO Richard McPhail told The Wall Street Journal on Tuesday that customers will see "some modest price movement for some categories," as tariffs on some goods are higher now than they were in May. He noted, however, that the "price movement…
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