Home Depot Sales Rise 5.7% in Q2

Home Depot's second-quarter sales rose 5.7% to $47.9 billion, surpassing last year's figure of $45.3 billion.

The company reported a net earnings increase to $4.8 billion from $4.6 billion in the prior-year period, and operating income rose to $6.8 billion from $6.6 billion.

Home Depot's gross margin reached 33.7%, while online sales grew by 11% and accounted for 16.6% of net sales.

The company attributed the quarter's success to its GMS, new branches, Mingledorff's, and positive comparable sales, but saw a rise in SG&A to $8.4 billion from $7.8 billion.