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Home Depot Stock Rises on Accelerating Sales Growth Amid Mixed Consumer Trends
Home Depot Stock Rises on Accelerating Sales Growth Amid Mixed Consumer Trends
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BTCCSquare news:
Home Depot shares climbed 3.11% to $406.99 following Q2 earnings, defying an S&P 500 dip as investors rewarded accelerating comps and maintained guidance. The home improvement retailer posted 1% same-store sales growth—with U.S. stores rising 1.4%—marking a third consecutive quarterly gain. July's standout 3.3% COMP growth offset softer May-June performance.
Revenue narrowly missed estimates at $45.27B versus $45.41B consensus, while adjusted EPS of $4.68 fell shy of the $4.72 forecast. Pricing power proved decisive, with average tickets rising 1.4% despite a 0.4% decline in customer transactions. Management reaffirmed full-year sales growth projections of 1%, with potential interest rate cuts eyed as a demand catalyst.
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