Home Depot Reports Sales Continue to Surge
Home improvement retailer Home Depot (NYSE: HD) announced strong sales and income growth in its third-quarter earnings report Tuesday. It also said that increased compensation made to frontline and hourly associates during the pandemic will be made permanent, adding about $1 billion in annual spending.
Home Depot reported a comparable stores increase of 24.1%, with U.S. comp sales increasing 24.6%. Both revenue and earnings beat analyst expectations. Net income of $3.18 per diluted share was 26% higher than the year-ago period, and above analyst estimates of $3.06 per share, according to Refinitiv.
Source Fool.com
