The "Construction Supply 150 (CS150)" study by Webb Analytics attributes last year's comparatively low growth rates at Home Depot, Lowe's and other DIY groups in the USA to lower lumber prices.
"Prices paid at the mill for major lumber species dropped 62 to 73 per cent between January and December last year," noted Craig Webb, president of Webb Analytics and the author of CS150. "Much of the CS150 was affected - even giants like Home Depot, which posted only a 4.3 per cent rise, in part because lumber sales rose 0.8 per cent in 2022 compared with 18 per cent a year before."
The 4.3 per cent growth rate in 2022 refers to Home Depot's operations in the US, excluding Canada and Mexico. Lowe's' growth in the US is 1.8 per cent, according to the report.