Home Depot's modern patio furniture line, gourmet barbecue system, and LED lighted toilet seat are among the retailers products launching this spring as part of its efforts to accommodate customers' interests in sprucing up their residences. Home Depot is also including never before seen inventory at decreased prices The Wall Street Journal reported Tuesday.
The upscale products are a result of Home Depot's constant progress in the past four fiscal quarters The Journal reported.
"We want to make sure we have products across the entire price spectrum, but we are adding on the higher end and also adding products with innovation that would come with a premium price," Carol Tome, Chief Financial Officer at Home Depot told The Journal reported.
Statistics for customers who forked out over $900 for inventory in the past three months before Feb. 2 went up 5.5 percent versus a 2.5 percent rise for products less than $50.
"In 2013, we posted our strongest comp sales growth in 14 years as solid execution and the recovering housing market aided our performance," Frank Blake, chairman and CEO at Home Depot said in a company press release. "I'd like to thank our associates for their hard work and commitment to our customers."
Home Depot anticipates sales to rise 4.6 percent in the 2014 fiscal year, not including store locations that have just unlocked its doors, or closed up shop The Journal reported. Income from earnings are also predicted to rise 4.8 percent.
The retailer projected in December that 2014 income levels would increase five percent.
"Last year, we saw strong recovery in housing prices and we expect it to continue, but at a lower rate," Tomé told The Journal. "While some of the housing data has softened, we continue to believe we're in a moderate stage of recovery."
