Home Depot 1Q Profit Rises 41%; Year View Raised |
| Wall Street Journal - May 18, 2010 |
Home Depot Inc.'s (HD) fiscal first-quarter earnings jumped a better-than-expected 41% as strength in seasonal items and improved profitability aided results.
The biggest home-improvement retailer, like smaller rival Lowe's Cos. (LOW) Monday, boosted its current-year sales and earnings forecasts to reflect the earnings beat. And its results, like Lowe's, reinforced the views that Americans are slowly resuming discretionary purchases, but that retailers remain cautious in light of the uncertain economic outlook.
But some analysts said Home Depot's results outshone those of Lowe's, which posted a better-than-expected 2.7% increase in profit and its first quarterly same-store sales increase in nearly four years.
"What we have received from Home Depot today depicts a company being very well run operationally and having a strong market share position," said Wall Street Strategies analyst Brian Sozzi in a note to clients.
Read Full Article from Wall Street Journal
- Posted: 2010-05-18 08:01:38
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