Free Trial

Home Depot's sales still climbing

Home Depot's sales continue to surge, though same-store sales appeared to come back to earth after a year in which the home improvement chain outperformed expectations repeatedly.

For the three months ended August 1, sales climbed to $41.12 billion from $38.05 billion. Chairman and CEO Craig Menea said in a prepared statement Tuesday that this was the first time the chain surpassed quarterly sales of more than $40 billion.

It also surpassed the $40.71 billion analysts were expecting, according to a survey by Zacks Investment Research.

However, sales at stores open at least a year, a key indicator of a retailer's health, increased 4.5%, and 3.4% in the U.S. Wall Street had expected same-store sales of 5.4% according to FactSet.

Shares fell nearly 4% before the opening bell.

Home improvement stores have been incredibly busy amid the pandemic as people continue to work from home and seek updates and fixes to their houses. Many families also decided that bigger homes, or at least different homes, were a necessity. That has fueled sales at Home Depot.

Home Depot Inc. earned $4.81 billion, or $4.53 per share, in the quarter. That compares with $4.33 billion, or $4.02 per share, a year ago. This beat the $4.43 per share that Wall Street predicted.

The Atlanta company didn't provide a full-year forecast.

Should You Invest $1,000 in Home Depot Right Now?

Before you consider Home Depot, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Home Depot wasn't on the list.

While Home Depot currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

2025 Gold Forecast: A Perfect Storm for Demand Cover

Unlock the timeless value of gold with our exclusive 2025 Gold Forecasting Report. Explore why gold remains the ultimate investment for safeguarding wealth against inflation, economic shifts, and global uncertainties. Whether you're planning for future generations or seeking a reliable asset in turbulent times, this report is your essential guide to making informed decisions.

Get This Free Report
Like this article? Share it with a colleague.

Companies Mentioned in This Article

CompanyMarketRankâ„¢Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Home Depot (HD)
4.8624 of 5 stars
$371.36-0.1%2.48%25.19Moderate Buy$426.77
Compare These Stocks  Add These Stocks to My Watchlist 

Featured Articles and Offers

Recent Videos

3 Cheap Growth Stocks Set to Explode This Summer
The Next NVIDIA? Quantum Computing Stocks Set for Explosive Growth
5 Stocks to BUY NOW in July 2025

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines