With Home Depot shares briefly touching an all-time high of $139 on Tuesday, CEO Craig Menear doesn't see the company's fortunes stalling anytime soon.
Supported by strength in the housing market — which is being driven by rising home values and household formation — the chief executive sees opportunities to further grow its business across the millennial and aging consumer populations, as well as with the professional customer.
"We've been fortunate that we're in a space where customers are willing to spend," Menear told CNBC's "Closing Bell."
That's particularly true as owners stay in their homes longer. With roughly 4.6 months' supply of houses on the market (compared with the historical norm of about six months), consumers' lengthier nesting periods are encouraging them to spend additional cash on upgrades, Menear said.
"If people aren't moving they're clearly investing in their homes," the CEO said. "That is a project driver."