in the most recent quarter. Same-store sales dropped 1.6% while revenue came in at $24.9 billion, slightly less than estimates, in the second quarter.
"Whenever that DIY customer becomes cautious, specifically on big-ticket [items], it disproportionately affects us," Ellison said at the conference.
However, Ellison said the shift in consumer behavior is a "short-term phenomenon" that will eventually lead to normalized demand.
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