The Home Depot, Inc. (HD) reported strong quarterly earnings, reporting a 31% jump in quarterly same-store sales, as revenue and profit surged as Americans continued to invest more to upgrade their living spaces. Home Depot also benefited from a years-long focus on e-commerce, particularly in services such as the “click and collect” service.
Same-store sales growth was expected to drop in the first quarter to 19.9% from 24.5% in the prior three-month period, as virus restrictions eased, more citizens get inoculated, and outdoor activities resumed. But the same-store sales were reported to be the greatest increase in recent years, beating expectations.
Net sales increased 32.7% to $37.50 billion, ahead of estimates of $34.96 billion. Net earnings increased to $4.15 billion, or $3.86 per share, in comparison to $2.25 billion, or $2.08 per share, a year earlier. Home Depot did not provide a forecast for the year.
The Home Depot, Inc. (HD) is the world’s largest home improvement retailer with retail stores all across North America. The Home Depot sells building materials and home improvement products, as well as lawn and garden supplies, and provides installation, home maintenance, and professional service programs. To learn more about The Home Depot, Inc. (HD), and to continue to track its progress please vista Partners The Home Depot, Inc. Coverage Page.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive! Please join us at Vista Partners and receive our FREE email updates throughout the week and view our exclusive content and research.
