The company is the latest to consider raising prices as Trump’s tariffs have begun hitting American companies.
WASHINGTON — Home Depot may raise prices on some products because of the Trump administration’s tariffs, the company’s CFO said.
Chief Financial Officer Richard McPhail told the Wall Street Journal in an interview that the company was reacting to the increases in costs associated with importing goods from overseas.
“So as you would expect, there will be modest price movement in some categories, but it won’t be broad based,” he told the financial news outlet.
CNN later confirmed price increases are coming to Home Depot.
The news comes even as Home Depot sales have increased. In the second financial quarter of 2025, the company saw revenue climb from $43.18 billion to $45.28 billion.
However, the company’s financial statements failed to meet Wall Street’s expectations, as consumers remained focused on smaller home improvement projects amid economic uncertainty.
Home Depot’s stock surged more than 4% in Tuesday morning trading.
The company is the latest to consider raising prices as Trump’s tariffs have begun hitting American companies.
Don Vultaggio, the founder and chairman of AriZona Beverage Company, told The New York Times he is reluctantly considering raising prices on the company’s signature tallboy cans for the first time since 1997, when the iconic 99-cent price was established.
Just over a year ago, Vultaggio affirmed his commitment to keeping the price at 99 cents for “the foreseeable future.”
“I hate even the thought of it,” Vultaggio told The Times. “It would be a hell of a shame after 30-plus years.”
Consumer prices as a whole are already going up.
The Labor Department reported on Aug. 14 that its producer price index — which measures inflation before it hits consumers— rose 0.9% last month from June, the biggest jump in more than three years. Compared with a year earlier, wholesale prices rose 3.3%.
Prices rose faster for producers than consumers last month, suggesting that U.S. importers may, for now, be eating the cost of Trump’s tariffs rather than passing them on to customers.
“It will only be a matter of time before producers pass their higher tariff-related costs onto the backs of inflation-weary consumers,” wrote Christopher Rupkey, chief economist at fwdbonds, a financial markets research firm.
The Associated Press contributed to this report.