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No Housing Alarm Bells (Yet) for Home Depot
There has been a steady trickle of gloomy headlines lately about the health of the housing market. But you wouldn't know it looking at Home Depot Inc.’s latest results. The home-improvement giant reported Tuesday that comparable sales rose 4.8 percent over a year earlier in the third quarter, growth that reflected an increase in transactions as well as higher average checks. The company also boosted its full-year forecast, saying it now expects comparable sales growth of around 5.5 percent and earnings per share of $9.75. As I’ve noted before, these kind of results have become routine for Home Depot, and there ... (full story)