Home Depot Outpaces Lowe’s As Housing Recovery Boosts Sales
Home improvement retailer Home Depot’s excellent run of results over the first three quarters of 2012 has been capped off with another strong performance in the final quarter. Earnings for Q4 2012 crossed the $1 billion mark compared to $774 million in Q4 2011 – a healthy increase of nearly 32%.
Net earnings were propelled by top-line growth with a steady recovery in the U.S. housing market driving consumer appetite for home improvement products. HD’s net sales for the final quarter stood at $18.2 billion, an increase of about 13.9% over Q4 2011.