Home improvement chain Lowe’s Cos cuts sales forecast – Yahoo News
In the U.S., the metric increased 6.4 percent. Sales at stores open at least a year excludes results from stores recently opened or closed. Online sales surged more than 38 percent in the quarter. Home Depot now foresees fiscal 2014 earnings of $4.52 per share.
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Home Depot Q2 Results Beat Estimates, Lifts FY14 Earnings View
Analysts estimated revenues of $23.61 billion for the period. Comparable-store sales for the second quarter were positive 5.8 percent, and comp sales for U.S. stores were positive 6.4 percent. Gross profit of $8.16 billion increased 5.7 percent from last year, and operating income of $3.45 billion grew 14.2 percent. In the quarter, number of Customer Transactions increased 4.2 percent, and sales per square foot grew 5.5 percent.
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Home Depot will report its 2011 fourth quarter earnings on Tuesday. (REUTERS/Jonathan Ernst) Aug 19 (Reuters) – Home Depot Inc, the worlds largest home improvement chain, said it expected same-store sales to grow faster in the second half of the year as customers furnish new houses and renovate existing ones in a recovering housing market. Home Depots shares rose as much as 5.5 percent to an all-time high of $88.16, after the company also reported better-than-expected quarterly results. The company expects same-store sales growth in the second half to be 80 basis points higher than the first half, Chief Financial Officer Carol Tome said on a conference call. She said there was a nice recovery in demand from building contractors as customers clearly feel better about investing in their homes. Home Depot gets much of its business from building contractors. U.S.
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Home Depot says US housing recovery to boost sales in 2nd half – TheGazette
Lowe’s same-store sales rose 4.4 percent in the second quarter. Analysts polled by Consensus Metrix had expected Lowe’s comparable-store sales to rise 4.1 percent. Net income rose to $1.04 billion, or $1.04 per share, in the second quarter ended Aug. 1, from $941 million, or 88 cents per share, a year earlier. Revenue rose to $16.59 billion from $15.71 billion. Analysts on an average had expected earnings of $1.02 per share on revenue of $16.55 billion, according to Thomson Reuters I/B/E/S.
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