Americans are splurging on this 1 category
Amid a dismal 2016 for retail, there's one category on fire right now in the land of commerce.
CNNMoney reports that Americans are splurging on expensive home items, including appliances, roofing materials and windows. Home Depot's head of merchandising Ted Decker disclosed items over $900 rose 9.5% in the first quarter.
Home Depot beat analysts' estimates last quarter, reporting a 9% rise in revenue and 6.5% rise in sales at existing stores.
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According to Bloomberg, Home Depot's soaring first quarter is representative of the bigger remodeling trend in 2016. The numbers don't just indicate that people are spending more, but that they're also going to the retailer more frequently.
Chief Financial Officer Carol Tomé shared that the company feels confident that the business will remain strong for the rest of 2016.
Watch the video above for more.
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