Insider Intelligence delivers leading-edge research to clients in a variety of forms, including full-length reports and data visualizations to equip you with actionable takeaways for better business decisions.
In-depth analysis, benchmarks and shorter spotlights on digital trends.
Learn More
Interactive projections with 10k+ metrics on market trends, & consumer behavior.
Learn More
Proprietary data and over 3,000 third-party sources about the most important topics.
Learn More
Industry KPIs
Industry benchmarks for the most important KPIs in digital marketing, advertising, retail and ecommerce.
Learn More
Client-only email newsletters with analysis and takeaways from the daily news.
Learn More
Analyst Access Program
Exclusive time with the thought leaders who craft our research.
Learn More

About Insider Intelligence

Our goal at Insider Intelligence is to unlock digital opportunities for our clients with the world’s most trusted forecasts, analysis, and benchmarks. Spanning five core coverage areas and dozens of industries, our research on digital transformation is exhaustive.
Our Story
Learn more about our mission and how Insider Intelligence came to be.
Learn More
Rigorous proprietary data vetting strips biases and produces superior insights.
Learn More
Our People
Take a look into our corporate culture and view our open roles.
Join the Team
Contact Us
Speak to a member of our team to learn more about Insider Intelligence.
Contact Us
See our latest press releases, news articles or download our press kit.
Learn More
Advertising & Sponsorship Opportunities
Reach an engaged audience of decision-makers.
Learn More
Browse our upcoming and past webinars and other events.
Learn More
Tune in to eMarketer's daily, weekly, and monthly podcasts.
Learn More

Home Depot posts its biggest revenue miss in more than two decades

The news: The stagnant housing market and tough year-over-year comps are finally catching up to Home Depot. The company reported:

  • Sales were $37.3 billion in fiscal Q1, down 4.2% year-over-year (YoY).
  • Comparable sales decreased 4.5%, and comparable sales in the US fell 4.6% YoY.
  • Net earnings for the first quarter of fiscal 2023 fell 6.6% to $3.9 billion, or $3.82 per diluted share, down from $4.2 billion, or $4.09 per diluted share, a year earlier.

While Home Depot noted cold weather and lumber deflation impacted its Q1 numbers, its challenges run deep as it forecasted a decline of 2% and 5% for the fiscal year. That’s down from its previous outlook of roughly flat sales.

The challenge: After many stuck-at-home consumers embarked on home improvement projects early in the pandemic, there are fewer prospective customers in the market for items like appliances and paint.

  • The US housing market is also in a rut with pending home sales decreasing in March for the first time since November 2022, per the National Association of Realtors. With fewer people on the move, there are fewer shoppers buying products such as house paint, appliances, and patio furniture for their new homes.
  • While many consumers continue to spend, they’ve pulled back on the exact type of expenses that fueled Home Depot’s impressive run over the past few years, such as large-scale renovation projects, and big-ticket items such as patio sets and grills.
  • Home-related items are often among the first category consumers cut back on when they reduce discretionary spending.

The big takeaway: The challenges faced by Home Depot are likely to be felt by a wide array of companies in the home goods space.