Second-quarter sales at established stores beat Wall Street forecasts thanks to a rebound in demand for seasonal merchandise. Sales rebounded from the first quarter when cooler-than-usual weather in some parts of the country hit demand for spring-season products. Home Depot said customer transactions rose 3.1 percent in the second quarter ended July 29. Sales at Home Depot stores open for more than a year climbed 8 percent, beating analysts' average estimate of a 6.65 percent rise. Net earnings rose to $3.5 billion or $3.05 per share in the three months ended July 29, from $2.7 billion or $2.25 per share a year earlier. Analysts expected earnings of $2.84 per share. Net sales rose 8.4 percent to $30.5 billion beating expectations of $30.03 billion. |
