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Home Depot

(HD) - Get Home Depot Inc. (The) Report

, the world's No. 1 home-improvement retailer, reported fiscal second-quarter earnings of $1.2 billion, or 72 cents a share, compared with year-earlier profit of $1.1 billion, 66 cents a share, as sales rose 1.8% to $19.4 billion.

Home Depot, in a statement Tuesday, said quarterly same-store sales rose 1.7%; comparable sales for U.S. stores rose 1%.

Analysts surveyed by Thomson Reuters expected Home Depot to earn about 71 cents a share on revenue of $19.59 billion.

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Home Depot said it expects fiscal-year sales to rise 2.6% and earnings from continuing operations to rise by about 22.6% to $1.90 a share.

Analysts forecast fiscal-year earnings of $1.89 a share on revenue of $68.21 billion.

"Our second-quarter sales reflect the third consecutive quarter of positive same store sales. We delivered solid results as we continue to build momentum with our merchandising transformation, supply chain enhancements and customer service initiatives," said Frank Blake, chairman and CEO, in a statement.


(LOW) - Get Lowe's Companies Inc. Report

, Home Depot's main rival, on Monday reported profit rose 9.6% but per-share earnings of 58 cents a share came in shy of analysts' estimates. Revenue gained 3.7% to $14.4 billion.

-- Reported by Joseph Woelfel in New York.

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