The Home Depot Inc. (HD) beat market estimates on both revenues and earnings for the second quarter of 2018. The home improvement retailer reported sales of $30.5 billion, up 8.4% from the same period last year. Comparable sales were up 8% while comparable sales in the US were up 8.1%.
Net income was $3.5 billion or $3.05 per diluted share compared to $2.7 billion or $2.25 per diluted share in the prior-year period, reflecting a growth of 35.6% in diluted EPS.
Home Depot updated its guidance for the full year of 2018. The company now expects sales to increase around 7% including the 53rd week, and comp sales to grow around 5.3% for the comparable 52-week period. Home Depot also anticipates diluted EPS to grow approx. 29.2% from fiscal year 2017 to $9.42.
At the end of Q2 2018, Home Depot operated a total of 2,286 retail stores in all 50 states, the District of Columbia, Puerto Rico, US Virgin Islands, Guam, 10 Canadian provinces and Mexico.
During Q2, customer transactions increased 3.1% while average ticket saw a growth of 5%. Sales per square foot improved 8.6%. The strength in sales was driven by good weather conditions along with favorable trends in both the housing market and the general economic environment.
Shares rose over 2% in premarket trading following the results announcement.
Video game retailer GameStop Corp. (NYSE: GME), which has become the talk of the town after the unprecedented stock rally in recent weeks, reported a narrower loss for the first
The steel industry managed to shrug off the pandemic blues earlier than expected as the recovery in industrial activity pushed up demand. With the vaccination drive and the government’s aggressive
Campbell Soup Company (NYSE: CPB) reported third-quarter 2021 earnings results today. Net sales decreased 11% year-over-year to $1.98 billion, as a result of lapping the demand surge at the onset