Report: Home Depot CEO expects higher sales

Atlanta -- The Home Depot reportedly expects a continuing recovery in the U.S. housing market to improve its sales later this year. In an interview with Bloomberg, Frank Blake, CEO of Home Depot, Inc., said steady improvement in the housing market should lead to private equity firms and investors renovating properties for rental.

Blake said Home Depot runs an entire unit dedicated to providing products to rental property owners who value durability and ease of replacement more than style. Bloomberg reports that analysts expect rising interest rates to cut into sales of big-ticket home items such as refrigerators.

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