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A second-quarter surge for Home Depot
Home Depot has posted double digit comp-store sales in the second-quarter, exceeding its own expectations, thanks to a rebound in seasonal categories.
Net sales at the world's largest home improvement retailer increased 9.5% to $22.5 billion in the quarter ended Aug. 4, compared to $20.6 billion in the same quarter last year. Comp-store sales increased 10.7% across the company, and increased 11.4% among domestic stores.
Net earnings for the quarter were $1.80 billion, up 17.2% from $1.53 billion in last year's 14-week second quarter.
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Best Buy profit tops Street, helped by cost cutting
MINNEAPOLIS — Best Buy said it earned $266 million in the second quarter, compared with a profit of $12 million in the year-ago period, amid cost cuts. Its results beat Wall Street expectations.
Revenue for the quarter, ended Aug. 3, edged down to $9.3 billion, from $9.34 billion last year. Analysts expected $9.13 billion. Same-store sales fell 0.6%, including a 0.4% decline domestically. Online sales rose 10.5%.