Home Depot posts record profit, revenue; sticks to outlook

Published August 16, 2022 4:27 AM

By MICHELLE CHAPMAN
AP Business Writer

Home Depot’s sales rose in its fiscal second quarter, buoyed by continued demand for items related to home improvement projects. Revenue for the three months ended July 31 rose 6.5% to $43.79 billion. This beat the $43.35 billion that analysts surveyed by Zacks Investment Research were calling for. Sales at stores open at least a year, a key indicator of a retailer’s health, climbed 5.8%. In the U.S., the figure increased 5.4%. While the number of customer transactions fell 3%, the amount shoppers spent per transaction rose 9.1%.

Article Topic Follows: AP National Business

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