Home Depot's early release of Halloween products sold out 'almost immediately'
Home Depot's overall net sales during the second quarter rose to $41.12B
Home Depot said Tuesday that it sold out of an early drop of Halloween products "almost immediately," indicating that consumers are looking to partake in the holidays despite looming concerns about the COVID-19 pandemic.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HD | THE HOME DEPOT INC. | 331.84 | -1.05 | -0.32% |
The home improvement retailer said in an earnings call on Tuesday that it had offered a "sneak peek" of its Halloween products online ahead of the upcoming season. "Almost immediately," everything was sold out, Chief Operating Officer Ted Decker said during the call.
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Decker said this was a "very strong indication that people are still going to engage in decorating."
Just last year the retailer turned heads after it debuted its 12-foot skeleton figurine for Halloween in late September.
A shopper wearing a facemask pushes her cart while people wait in line to enter The Home Depot in Marina Del Rey, California on May 22, 2020. (Chris Delmas/AFP via Getty Images / Getty Images)
Despite the pandemic altering traditional holiday plans, the decoration, which cost roughly $300, proved to be a hit. At one point, the product was listed as out of stock online.
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Overall net sales during the second quarter climbed 8.1% from the year-ago period to $41.12 billion.
"I would like to extend my sincere appreciation to our team, as well as our supplier and supply chain partners, as they continue to operate in this dynamic and challenging environment," CEO Craig Menear said.