CLAIM #29302 · The Home Depot Inc (HD) · 2021Q3 earnings call · Nov 16, 2021 · due Jan 30, 2022
“There's a lot of the season to come, so we're certainly pleased with the response to the gift centers I mentioned in our decorative holiday program. The Christmas sets are following the strength of the Halloween, but we're earlier in the ramp up towards where the volumes come in starting next week, Thanksgiving week so, a lot to go in the fourth quarter, but the ramp looks good.”
Ted Decker · President and COO
In context
“to see that. I think in part as we're still high compared to norms, but as lumber came down to more reasonable levels, compared to the last couple of years, we certainly saw an acceleration there and that always carries across the store. Lumber used drive our projects throughout the business and that certainly carries on. So we're really pleased with the broad-based, it was geographic as well. We actually saw a narrowing of geographic variance during the quarter. So we're very, very pleased with how that played out. Richard Mcphail: And as we said, ticket and transaction both improved sequentially. The open question obviously will be how the consumer reacts in the future. But at least for October, both of those moves in positive direction. Christopher Horvers: [Indiscernible] Ted Decker: There's a lot of the season to come, so we're certainly pleased with the response to the gift centers I mentioned in our decorative holiday program. The Christmas sets are following the strength of the Halloween, but we're earlier in the ramp up towards where the volumes come in starting next week, Thanksgiving week so, a lot to go in the fourth quarter, but the ramp looks good. Christopher Horvers: Got it. And then as a follow-up, you've alluded a little bit to price elasticity. Are you seeing any of it? You have some pretty rapid inflation in areas like major appliances, I would assume anything coming in from Asia has a lot of freight driven inflation. So in some of those bigger ticket areas, or anywhere in the mix, are you seeing any price elasticity which sort of is compressing volume perhaps down, which I think Whirlpool talked about, but more than offset just by price. Ted Decker: Yeah. I would say certainly we watch it very carefully. We have not seen it broadly. I think lumber was the best example as Craig (ph ) just alluded to. And lumber prices were 3 and 4x. The near-term levels, we clearly saw unit’s drop-off, which then leads to project dropping off”
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SEC filings for HD ↗ · Claim quote is verbatim from the 2021Q3 earnings call.