Home Depot Sales Improve on Smaller Projects

Home Depot reported improved sales in its second quarter due to customers focusing on smaller projects during the summer months. The company's revenue increased to $47.86 billion from $45.28 billion, surpassing Wall Street's expectations of $47.24 billion.

The 1.7% increase in globally comparable store sales and 1.3% rise in US comparable store sales were driven by customers undertaking smaller projects, according to Chief Financial Officer Richard McPhail.

However, customer transactions declined 1%, but the average amount spent per transaction increased to $92.50 from $90.01 last year.