ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

HD Home Depot Inc

383.60
-2.29 (-0.59%)
29 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Home Depot Inc NYSE:HD NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -2.29 -0.59% 383.60 387.64 379.7236 387.13 4,169,096 00:00:00

Home Depot Sales Surge, Extending Growth During Pandemic

18/05/2021 12:32pm

Dow Jones News


Home Depot (NYSE:HD)
Historical Stock Chart


From Mar 2021 to Mar 2024

Click Here for more Home Depot Charts.
By Matt Grossman 

Home Depot Inc. extended a streak of robust year-over-year sales growth in the February-through-April quarter as a rise in demand that began with the coronavirus pandemic continued into 2021.

Sales for the Atlanta-based home-improvement retailer climbed to $37.5 billion in the three months ended May 2, from $28.26 billion in last year's fiscal first quarter. Home Depot's profit rose to $4.15 billion, or $3.86 a share, from $2.25 billion, or $2.08 a share, a year earlier.

Wall Street analysts had been forecasting sales of $34.82 billion and profit of $3.02 a share, according to a FactSet survey.

Chief Executive Craig Menear attributed the results to unprecedented demand for home-improvement projects. On a comparable-store basis, the company's sales rose 31%, including a 30% climb in the U.S.

Even as much in-person retail evaporated last spring, Home Depot worked to keep its stores open, arguing that it should be considered an essential retailer. As homebound Americans shopped for basic supplies and took on household projects during the pandemic's lockdowns, demand for products from house plants to cleaning chemicals and kitchen appliances soared.

A booming housing market and federal support in the form of enhanced unemployment benefits and stimulus checks have also bolstered home-minded consumer spending.

Despite a broader economic downturn, that trend has lifted the fortunes of Home Depot, a company whose focus on home projects had meant its growth was usually linked to baseline economic growth.The company's share price has risen more than 33% over the last year, closing on Monday at $320.01. In pre-market trading, shares were up 2.5% Tuesday morning.

In the latest quarter, Home Depot's tally of customer transactions rose to 447.2 million, from 374.8 million a year earlier. The average ticket rose to $82.37, from $74.70 in last year's first quarter.

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

May 18, 2021 07:17 ET (11:17 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

1 Year Home Depot Chart

1 Year Home Depot Chart

1 Month Home Depot Chart

1 Month Home Depot Chart

Your Recent History

Delayed Upgrade Clock