Home Depot chairman and CEO Frank Blake on Wednesday reiterated that the company is seeing improvement in the housing market, but said that there is still a long way to go.
“The thaw is starting, but it’s going to take some time,” he said. “We’re starting to see some encouraging signs of recovery.”
Blake said he expects Home Depot’s sales to be driven not by a return in the housing market, but by improving GDP. Retail sales remain strong, he said.
Blake was speaking to the Atlanta Press Club about the Atlanta-based home improvement retailer’s initiatives to help veterans find jobs and housing. Home Depot recently dedicated $50 million over three years to veterans’ housing initiatives.
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