Home Depot beats quarterly sales estimates as contractor demand remains resilient
The retailer reported a surprise rise in same-store sales for the fourth quarter. Resilient demand from professional contractors helped beat expectations.
Insights:
The Home Depot, Inc. reported fourth-quarter sales that beat Wall Street estimates, registering a 0.4% rise in same-store sales for the three months ended February 1. This outcome reflects the company's reported quarterly sales performance and comes as a significant result for the world's largest home improvement chain, particularly as analysts had generally expected sales to remain flat during the period.
