The home decor and decor accessories store chain Home Depot is the first to report its earnings, which included a decline in sales of the retailer’s flagship stores.
The chain saw its quarterly profit drop 2.6% in the quarter.
The quarterly loss was mostly due to the decline in its home decor business, which saw its revenue drop 4.6%.
Home Depot said it expects the loss to come in the third quarter of 2018, which would be a relief to the struggling chain.
The retailer said the decline is due to a variety of factors including an improvement in its sales and a “revised” sales forecast.
In the third-quarter, Home Depot’s home decor inventory fell 7.7% from the same period a year ago, and the retailer is expected to report a lower quarterly profit in 2018.
Home Depot has been struggling since it reported a $4.4 billion loss in 2017.
Analysts have estimated that the retailer will be profitable in 2020, and it has been a focus for Amazon and Google, both of which have recently begun building and expanding their own Home Depot stores.
Home depot’s stock has been on a downward trend since the start of the year.
It closed the year at $35.57 a share.
Home owners will likely have a few options to make ends meet if they want to replace their homes with more affordable home decor items.
Home improvement centers and thrift stores have both increased their prices recently.
A number of Home Depot locations are in the suburbs and in communities that are struggling economically.
The company has also said it will continue to focus on expanding its stores and opening more stores in smaller markets, though it said the number of stores will likely increase over time.