The home improvement retailer, which has experienced sluggish sales, also said the price strategy could help it compete better with rivals.

But on its earnings call Tuesday morning, Home Depot told investors it doesn’t plan broad price increases. At a time when consumers are bracing for higher prices, companies can give themselves an edge by promising to buck that trend. Terry Esper, a professor of logistics at the Ohio State University, said Home Depot is in a good position.

Home Depot's executive vice president of merchandising told analysts that the company intends "to maintain pricing across our portfolio."