Stocks
Home Depot Sees Strong Sales Growth Amid Turnaround Efforts
The Home Depot reported fiscal second-quarter sales of $47.86 billion, up 5.7% year over year.
This represents the company's strongest comparable-sales growth since 2022.
Adjusted earnings of $4.92 per share exceeded the $4.73 analyst consensus, reinforcing the view that the retailer’s turnaround is gaining traction.
The news comes as Magellan Asset Management Ltd acquired a new position in The Home Depot, Inc. (NYSE:HD) during the second quarter.