Home Depot (NYSE: HD) reports sales of similar stores up 23.4% in Q2, above consensus estimates of 10.9%.
The comparable sales for the American stores was 25%.
Gross margin rate +20 bps to 34%; Amount margin rate flat at 15.9%.
Merchandise inventory 8.4% to $ 13.5B.
Number of customer transactions increased 12.3% to 511.5M, and the average ticket price increased 10.1% to $ 74.12.
Sales per retail square foot grew 23.5% to $ 629.38.
Store count +2 Y / Y to 2,293 for the period.
Craig Mr., Chairman, CEO and President, said, “We continue to focus on continuing the momentum of our One Home Depot investment strategy which we believe will position us for continued long-term growth, while maintaining flexibility to to navigate the demands of today’s environment. Through all of this, we will continue to lead our values by doing the right thing and caring for our people. “
“Home Depot offers tangible capital gains, driven by stock purchases and rapid DPS growth,” wrote Nikolaos Sismanis about Seeking Alpha.
Shares up 3% premiere.
Earlier: Home Depot EPS hits $ 0.34, hits revenue (Aug. 18)
