A Home Depot store can be seen in Washington, DC on August 18, 2020.
NICHOLAS COMB | AFP | Getty Images
Home Depot announced Tuesday that an early release of Halloween products sold out quickly, signaling that consumers will be decorating their homes this fall and winter.
The home improvement retailer recently offered shoppers a taste of its Halloween products online and sold everything “almost immediately”.
“This is a very strong indication that people are still preoccupied with decorations,” management told analysts during a conference call.
The full range will go on sale in the coming weeks in line with the typical schedule, Home Depot said.
Last year, Home Depot had its most successful Halloween event ever, with inventory on a 12-foot skeleton sold out before October. Americans gave themselves holiday decorations for both Halloween and Christmas as they looked for ways to entertain themselves at home during the health crisis. Many saw decorating as a fun way to celebrate the holidays.
Companies like Walmart and Target hope to benefit from similar trends this holiday season.
The frenzied Delta variant has driven Covid-19 cases soaring, especially in areas with low vaccination rates. Five states broke records for the average number of new Covid cases each day over the weekend, prompting some states to restore public health measures.
Home Depot shares fell more than 5% Tuesday morning after the retailer’s second-quarter sales in the same store fell short of Wall Street’s expectations. Home Depot added that its outlook for the year is still uncertain due to the pandemic.