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Home Depot announced second quarter results, with comparable store sales in the positive numbers, up 5.8 percent across the entire company, and positive 6.4 percent across U.S. stores.
In the second quarter of fiscal 2014, sales were reported at $23.8 billion, a 5.7 percent boost from the previous second quarter of fiscal 2013. Net earnings for the second quarter were $2.1 billion, equaling out to $1.52 per diluted share.
The company relates the improved financial earnings of the second quarter with the spring season returning and a “strong performance in the core of the store,” Frank Blake, chairman and CEO of Home Depot says.
With rising home prices on the market, consumers are looking to spend more on their homes. In addition, improved weather conditions had consumers searching for products for the yard.
Another area of sales discussed reported homeowners are purchasing more appliances, which Home Depot has been expanding.
Sales of washers and dryers at Home Depot helped bring purchases pushing past $900 increase to 8.4 percent.
Some obstacles have been the slowing growth of home values, in addition to a limited amount of credit available and higher interest rates.
To read the full press release click here.
