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Home Depot same-store sales crush Wall Street estimates


Added 11-14-17 06:02:01am EST - “Home Depot has forecast comparable sales to climb more than 5 percent in fiscal 2017.” - Cnbc.com

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Posted By TheNewsCommenter: From Cnbc.com: “Home Depot same-store sales crush Wall Street estimates”. Below is an excerpt from the article.

While many retailers are struggling to grow sales, home improvement businesses such as Home Depot and Lowe's continue to outperform in luring shoppers to their stores. E-commerce platforms, including Amazon, haven't yet succeeded in amassing the same product assortments — from lumber to outdoor grills — online.

Home Depot has benefited both from more sales of big-ticket items, which are priced above $900, and from an increase in the average shopper's ticket.

According to the U.S. Census Bureau's retail sales data, home improvement spending remains healthier still than most retail categories. In the second quarter of this year, Home Depot's comparable sales increased 6.3 percent, while those of Lowe's were up a healthy 4.5 percent.

Looking to the full year, Atlanta-based Home Depot has forecast comparable sales to climb more than 5 percent in fiscal 2017.

"Based on our store checks, we believe lumber, appliances, roofing, and flooring were all stronger categories in 3Q, as were storm preparation items such as generators in hurricane-impacted regions," BTIG analyst Alan Rifkin wrote in a recent note to clients.

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