Home Depot increased sales by 2.5% in the first fiscal quarter


Home Depot, the largest home improvement store chain in the United States, reported that its comparable sales increased 2.5% in the first fiscal quarter to May 5 from the same period a year earlier. The indicator disappointed economists who had expected it to grow by 4.3% over the year. At the same time, in the United States, a comparable sales growth of 3% was recorded, which also turned out to be worse than the 4.3% rise predicted by analysts. Quarterly indicators were lower than expected due to adverse weather conditions in February, as well as a sharp fall in prices for lumber. At the same time, net profit growth by 4.5% to 2.51 billion dollars turned out to be better than economists' forecasts. Calculated per share, earnings amounted to 2 dollars 27 cents, while the forecast had been 2 dollars 18 cents per share. Revenues amounted to 26.38 billion dollars, an increase of 5.7% over the year.

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