New York
CNN
—
Americans turned into DIY fanatics during the pandemic, beautifying their apartments, homes and condos while they were stuck inside and tired of looking at the same drab interior every day.
But the Covid emergency is over, prices are (much) higher, consumers are growing fearful of a recession and people are spending less at Lowe’s and Home Depot.
Lowe’s on Tuesday lowered its profit and sales outlook for the year, saying consumers were spending less on home improvement. It comes on the heels of rival Home Depot also posting disappointing sales and a somber forecast last week.
