Home Depot Shows Growth in Same-Store Sales

Home Depot (HD) - Get Report rolled out second-quarter earnings before the opening bell Tuesday, posting earnings of $1.97 per share for the period, topping consensus estimates by a penny. Sales of $26.5 billion were roughly in line with expectation. Home Depot shares were giving back morning gains mid session. Sales of the Atlanta-based supplies retailer rose nearly 7% year over year, while same-store sales were up 4.7% over the period, with revenue increasing 5.4% in the U.S for the quarter. Home Depot also reaffirmed its sales growth guidance for the year at just over 6%, while same-store-sales growth will likely rise about 5%. CEO Craig Menear said in a Tuesday statement: 'We had a solid quarter, achieving the highest quarterly sales and net earnings results in company history as housing continues to be a tailwind for our business.' Home Depot shares are up about 16% over the past 12 months.

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