Home Depot comparable-store sales top estimates

Business

FILE PHOTO – A Home Depot employee is seen outside a store in Los Angeles, California March 17, 2015. REUTERS/Lucy Nicholson/File Photo

(Reuters) – Home Depot Inc (HD.N) topped Wall Street estimates for quarterly comparable-store sales on Tuesday, as consumers faced with a shaky U.S. housing market spent more on average at the country’s No.1 home improvement chain.

Sales at U.S. stores open for more than a year rose 5.4 percent during the third quarter ended October, above analysts’ expectations of a 4.38 percent increase, according to IBES data from Refinitiv.

Home Depot’s net earnings rose to $2.87 billion or $2.51 per share, from $2.17 billion or $1.84 per share a year earlier.

Net sales overall rose 5.1 percent to $26.30 billion, edging past analysts’ average estimate of $26.26 billion.

Reporting by Aishwarya Venugopal in Bengaluru

Products You May Like

Articles You May Like

U.S. wants U.N. to ban nuclear ballistic missile work by Iran
Ivory Coast painter gives new life to e-waste
NFL roundup: Bears beat Rams, shake up playoff picture
Kremlin: allegations against accused Russian agent Butina groundless
NASA’s intrepid Voyager 2 probe crosses into interstellar space

Leave a Reply

Your email address will not be published. Required fields are marked *