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Home Depot is leaning more heavily on contractors, specialty distribution and job-site delivery as high mortgage rates continue to suppress big homeowner remodels.
Why it matters: Tuesday's quarterly results suggest Home Depot sees contractors — not a homeowner rebound — as its clearest near-term growth engine.
Driving the news: Atlanta-based Home Depot reported first-quarter sales of $41.8 billion Tuesday, up 4.8% from a year earlier, while comparable sales rose 0.6%.
