Trump-loving company suffering under his economy because of the A-word
When Homes Depot suffers its state headquarters feels the pain — and swing state Georgia is definitely taking notice of the 800 jobs the company reported lost in January. Now the Atlanta Journal Constitution reports the company, whose founders are supporters of President Donald Trump , are reeling from a 4.4 percent net earnings decline from $14.8 billion in fiscal year 2024, thanks to the president’s sputtering housing industry. “The current mortgage rate environment and significant increase in home prices since 2019 have impacted housing affordability,” Home Depot Chief Financial Officer Richard McPhail said during a conference call with investors on Tuesday. “Housing turnover has remained at historical lows since 2023, which has significantly reduced demand for projects and other purchases associated with buying and selling a home.” “Our customers also tell us they have concerns over general economic uncertainty, including inflation, growing job concerns and higher financing c...