Atlanta, GA, May 6--Home Depot Inc. Chief Executive Robert Nardelli said on Wednesday he's not concerned that rising interest rates will hurt sales, since the retailer's business is more closely tied to housing turnover and remodeling demand.
"I don't think that a modest increase in the prime rate is going to create such a roadblock that the housing starts, which leads into housing turnover, is going to come to a screeching halt," Nardelli told Reuters in a telephone interview.
"As the economy seems to be more robust, as unemployment goes down, we're still very optimistic about the opportunity for people to do home improvement projects," he said.
