Home Depot doesn't plan to increase prices because of tariffs, officials said during the company's quarterly earnings Tuesday. CEO Ted Decker said Tuesday he anticipates that 12 months from now "no single country outside of the United States will represent more than 10% of our purchases.

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

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