The Home Depot racked up another quarter of solid sales and earnings gains fueled by continued strong demand in the home improvement market.
The world’s largest home improvement retailer reported sales of $26.3 billion for the quarter ended Oct. 28, up 5.1% from the year-ago period. Net earnings for the third quarter of fiscal 2018 were $2.9 billion, compared with net earnings of $2.2 billion in the same period of fiscal 2017. Earnings per share were $2.51, easily topping the $2.26 analysts had expected. At the end of the quarter, Home Depot operated 2,286 stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. Despite already being the market leader by some margin, Home Depot is now putting even more distance between itself and rivals as it gains both market and customer share.