Home Depot’s Upbeat Q4 Shows Strengthening Consumer
Consumers might be scaling back spending at department stores, but they have been out shopping in full force at Home Depot.
Consumers might be scaling back spending at department stores, but they have been out in full force at Home Depot (HD). The home improvement retailer posted fourth quarter earnings of $1.17 a share, beating estimates of $1.10 a share. Revenue came in at $20.98 billion, ahead of the $20.39 billion Wall Street was looking for. Comparable store sales rose 8.9 percent during the quarter for U.S. locations. ‘The company is really benefitting from the strong housing market in the U.S.,’ said Jasper Lawler, a market analyst at CMC Markets in London, adding that low interest rates are encouraging consumers to buy homes. TheStreet’s Scott Gamm has details from Wall Street.
