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Home Depot Profits Jump in Second Quarter

Business

0  Updated at 11:05 am, August 19th, 2014 By: ABC Digital
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Scott Olson/Getty Images(ATLANTA) — The latest sign of U.S. economic revival comes in the second-quarter earnings report by America’s biggest home improvement chain.

The Home Depot announced on Tuesday net sales of $23.8 billion in the three months ending Aug. 3, a 5.7 percent increase from the same time period in 2013.

Net earnings were also up, jumping to $2.1 billion — or $1.52 per share — from $1.8 billion ($1.24 per share) last year.

“In the second quarter, our spring seasonal business rebounded, and we saw strong performance in the core of the store and across all of our geographies,” Home Depot CEO Frank Blake said in a statement. “I would like to thank our associates for their hard work and dedication, especially at this time of increased demand.”


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