President and CEO Ted Decker described 2023 as a year of moderation following three years of exceptional growth. The home improvement retailer started last year “with more inventory than we would’ve preferred,” Decker said, according to a Seeking Alpha call transcript.
Last summer, the company said it wanted to reduce fixed costs by $500 million in 2024. Executives said the company is on track to realize that goal this year. Decker also said the company’s inventory position has since improved.
