- Home Depot said Tuesday it quickly sold out of an early release of Halloween products.
- “That’s a very strong indication that people are still going to engage in decorating,” management told analysts.
- Last year, Home Depot said it had its most successful Halloween event ever, when it quickly sold through stock of a 12-foot skeleton.
Home Depot said Tuesday it quickly sold out of an early release of Halloween products, offering a signal that consumers will be eager to decorate their homes this fall and winter.
The home improvement retailer recently offered shoppers a sneak peek at its Halloween products online and sold through everything “almost immediately.”
“That’s a very strong indication that people are still going to engage in decorating,” management told analysts during a conference call.
Its full assortment will go on sale in the coming weeks, consistent with its typical schedule, Home Depot said.
Last year, Home Depot had its most successful Halloween event ever, with stock of a 12-foot skeleton selling out before October. Americans splurged on holiday decor at both Halloween and Christmas, as they looked for ways to entertain themselves at home during the health crisis. Many saw decorating as a fun way to celebrate the holidays.
Companies such as Walmart and Target are hoping to benefit from similar trends this holiday season.
The raging delta variant has been driving Covid-19 cases higher, particularly in areas with low vaccination rates. Five states broke records for the average number of daily new Covid cases over the weekend, prompting some states to reinstate public health measures.
Home Depot shares fell more than 5% Tuesday morning, after the retailer’s fiscal second-quarter same-store sales missed Wall Street expectations. Home Depot added its outlook for the year is still uncertain due to the pandemic.
Source: Business - cnbc.com
