Home Depot’s Q2 hits new highs

The big get bigger.



The Home Depot reported record sales and net income as it revised upward its expectations for the full year.



The world’s largest home improvement retailer Tuesday morning posted second quarter sales of $26.5 billion, up 6.6% from the second quarter a year ago. Comparable store sales were up 4.7%, and up 5.4% in the U.S.



Net earnings were $2.4 billion, up from $2.2 billion.



“We had a solid quarter, achieving the highest quarterly sales and net earnings results in company history as housing continues to be a tailwind for our business,” said Craig Menear, chairman, CEO and president.



The Atlanta-based retail giant reaffirmed its fiscal 2016 sales guidance and expects sales will be up approximately 6.3% and comp sales will be up approximately 4.9%. The company raised its diluted earnings-per-share guidance for the year and now expects diluted earnings per share to grow approximately 15.6% from fiscal 2015 to $6.31.



The retailer operates 2,275 retail stores — the same number as it reported in the first quarter.