Memphis Daily News Chandler Reports Nashville Ledger
» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 43 | NO. 20 | Friday, May 17, 2019

Home Depot posts strong profit, revenue

Print | Front Page | Email this story

ATLANTA (AP) — Home Depot is reporting better than expected profit and revenue for the first quarter despite a damp start to 2019.

That inclement weather and an extra week in the previous fiscal year dampened the home improvement retailer's comparable store sales.

Comparable store sales, a key gauge of a retailer's health, increased 2.5%, which is short of the 4.2% expected, according to Zacks Investment Research. In the U.S., same-store sales climbed 3%.

Despite the bad weather, customers spent more, with the average ticket climbing 2% to $67.31. The number of customer transactions also improved, up 3.8% from a year earlier.

The Atlanta company still foresees fiscal 2019 earnings up about 3.1% from fiscal 2018 to $10.03. It maintains sales will rise by approximately 3.3%.

The home improvement retailer earned $2.51 billion, or $2.27 per diluted share, for the three months ended May 5. That compares with $2.4 billion, or $2.08 per diluted share, a year ago.

That easily beat the $2.16 per share analysts polled by Zacks were calling for.

Revenue rose to $26.38 billion from $24.95 billion, also topping expectations.

_____

Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HD at https://www.zacks.com/ap/HD

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0