About 150 of the employees were based at the company’s headquarters in Atlanta, and the rest worked remotely, according to the report.
Home Depot will also require corporate employees to return to the office five days per week, beginning April 6, the report said, citing a message to employees from Home Depot CEO Ted Decker.
Decker said in the message that the company is making those changes to improve its “speed and agility,” according to the report.
The company missed Wall Street’s earnings expectations in the last three quarters, and its shares have fallen about 10% over the past year, the report said. Its next earnings report is scheduled for Feb. 24, per the report.
PYMNTS reported in November that during an earnings call, Home Depot executives pointed to macro realities such as consumer uncertainty and continued press in housing that were impacting home improvement demand.
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“Our results missed our expectations primarily due to the lack of storms in the third quarter, which resulted in greater than expected pressure in certain categories,” Decker said during the call. “Additionally, while underlying demand in the business remained relatively stable sequentially, an expected increase in demand in the third quarter did not materialize.”
During the same month, PYMNTS reported that home improvement company Lowe’s saw its comparable sales tick up just 0.4%, underscoring the challenging environment shaped by inflation pressures, elevated interest rates and a housing market in flux. Lowe’s lowered its full-year outlook, citing the headwinds facing the macro mix.
Lowe’s is scheduled to hold its fourth quarter 2025 earnings conference call on Feb. 25.
It was reported in August that investors were looking for signs of any reduction in the headwinds that have been facing the home and garden market.
That report said the sector was facing a sluggish housing market, tariffs, high interest rates and consumer caution when it comes to big purchases.
At the time, most categories of retailers had posted growth over the previous quarter, but building materials and garden supply retailers had seen year-over-year drops of at least 4%.
