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Home Depot Profit Rises 9.3% as Americans Keep Remodeling

By Tony Seruga

Retailer raises profit forecast and maintains sales projection
CFO says company is ‘very pleased’ with August results so far

Home Depot Inc., the world’s largest home-improvement retailer, posted second-quarter profit that rose 9.3 percent and boosted its earnings forecast for the year as Americans continued spending on their houses.

Net income increased to $1.97 a share in the fiscal second quarter, which ended July 31, the Atlanta-based company said Tuesday in a statement. That matched analysts’ average estimate.

The results reinforced that consumers are still willing to splurge on fixing up their dwellings, spurred along by rising home values. Chief Financial Officer Carol Tome said on a conference call with analysts that Home Depot is “very pleased” with its August sales so far and that the company has confidence in the second half of the year…

Home Depot Profit Rises 9.3% as Americans Keep Remodeling

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