The pandemic brought on a huge surge in sales for Home Depot (NYSE: HD), but that growth has slowed now as people take on fewer renovation projects than they did a couple of years ago. Home Depot sells home improvement products to both DIY and professional customers. Home Depot offers pros -- contractors, plumbers, electricians, and the like -- a rewards program, discounted volume pricing, the ability to rent tools, a dedicated customer service line, and delivery options to various job sites, among other perks.
Home Depot (NYSE: NYSE:HD), a leading retail player, is expected to face a slowdown in revenue for the current fiscal year due to a recent decline in home renovation activities. The company's stock has seen a 2% drop this year, contrasting with the S&P 500's 14% gain. Despite this, Home Depot's strategic focus on professional customers and continuous efforts to improve operational efficiency have allowed it to maintain its position as a key player in the industry.
Building positions in dividend stocks can help investors overcome market volatility and generate reliable passive income streams. If you're looking to add dependable, income-generating stocks to your portfolio, two Motley Fool contributors believe that you would be smart to start building positions in AT&T (NYSE: T) and Home Depot (NYSE: HD) right now. Investors who divide $10,000 evenly across these two dividend stocks can look forward to annual income generation of $490 per year, and both stocks also have the potential for significant stock price gains.