Depot

Home Depot, Inc. (The) (HD) Stock Forecasts

Summary

Home Depot is the world’s largest home improvement retailer, with sales of $110 billion for the fiscal year ended February 2, 2020. The company, which is based in Atlanta, sells appliances, tools, paint, lumber, plumbing and electrical, garden and other home-improvement supplies in warehouse-sized stores that average 105,000 square feet. About 31% of sales came from plumbing, electrical and kitchen; 29% from hardware and seasonal; 21% from building materials and 19% from paint and flooring. The company’s total selling space is about 238 million square feet. At the end of FY20, Home Depot had 2,291 stores. Approximately 28% of U.S. stores are in California, Florida and Texas. About 8% of the stores are in Canada and 4% are in Mexico. Online sales represented almost 8% of the FY19 total, up from about 7% at the end of FY18.

The company’s fiscal year ends on the Sunday nearest

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Home Depot Reports Sales Continue to Surge

Home improvement retailer Home Depot (NYSE:HD) announced strong sales and income growth in its third-quarter earnings report Tuesday. It also said that increased compensation made to frontline and hourly associates during the pandemic will be made permanent, adding about $1 billion in annual spending. 

Home Depot reported a comparable stores increase of 24.1%, with U.S. comp sales increasing 24.6%. Both revenue and earnings beat analyst expectations. Net income of $3.18 per diluted share was 26% higher than the year-ago period, and above analyst estimates of $3.06 per share, according to Refinitiv.

Front of Home Depot store

Image source: The Home Depot.

Chairman and CEO Craig Menear said in a statement the “exceptional” results reflected “the continuation of outsized demand for home improvement projects.” In the nine months ended Nov. 1, 2020, Home Depot has increased its net cash provided by operating activities by more than 60% compared to the previous-year period. 

Earlier

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Is Home Depot (HD) Benefiting From the Stay-at-Home Trend?

The Home Depot Inc. HD, which is a leading home-improvement retailer in the United States, is one of the prime beneficiaries of the coronavirus pandemic-induced a stay-at-home trend across all regions. This trend has proved to be a blessing for the home improvement industry. Notably, there has been a marked increase in repairs and home-remodeling projects in the past few months, as people are spending more time at home due to the increased work-from-home situation.

The company noted that accelerated customer engagement for home improvement in the second quarter of fiscal 2020 led to strong growth in its Pro and DIY customer categories. Notably, it witnessed strong demand for exterior and interior projects like deck building, painting projects, landscape work and home repairs due to increase wear and tear. As a result, DIY sales outpaced Pro sales growth in the fiscal second quarter.

Further, its Pro customers’ sales accelerated significantly

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Home Depot Q2 Sales Jump Over 23% Amid COVID-19 Restrictions; Target $320

Home Depot Inc, the largest home improvement retailer in the United States, reported sales of $38.1 billion for the second quarter of fiscal 2020, a 23.4% increase from a year earlier as consumers ordered more home improvement products amid COVID-19 restrictions, sending its shares up about 3% in pre-market trading on Tuesday.” data-reactid=”19″Home Depot Inc, the largest home improvement retailer in the United States, reported sales of $38.1 billion for the second quarter of fiscal 2020, a 23.4% increase from a year earlier as consumers ordered more home improvement products amid COVID-19 restrictions, sending its shares up about 3% in pre-market trading on Tuesday.

The home improvement retailer said its net earnings for the second quarter of fiscal 2020 were $4.3 billion, or $4.02 per diluted share, compared with net earnings of $3.5 billion, or $3.17 per diluted share, a year earlier.

For the second

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Tempur Sealy, Home Depot, Etsy, RH and Williams-Sonoma

For Immediate Release

Chicago, IL – August 6, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Tempur Sealy International, Inc. TPX, The Home Depot, Inc. HD, Etsy, Inc. ETSY, RH RH and Williams-Sonoma, Inc. WSM.

Here are highlights from Wednesday’s Analyst Blog:

Home Improvement Spree Props E-Commerce Stocks: 5 Picks

The coronavirus outbreak has swelled the traffic to online shopping platforms with more people at home due to lockdowns. And the demand for home décor has also gone up significantly with people finding the time to refurbish interiors.

Surge in online shopping of home furnishing products has boosted e-commerce businesses, dealing a massive blow to brick-and-mortar retailers.

Online Delivery Caters to DIY Customers

The use of do-it-yourself (DIY) products

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Lowes, Home Depot and Scotts Miracle-Gro

For Immediate Release

Chicago, IL – June 26, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Lowes Companies, Inc. LOW, The Home Depot Inc. HD and The Scotts Miracle-Gro Co. SMG.

Here are highlights from Thursday’s Analyst Blog:

Coronavirus Feeds Home Improvement Trends: 3 Stocks to Count On

The COVID-19-induced shelter-at-home orders fueled the need for home improvement by housebound Americans, thereby driving demand for the said industry.

The home improvement space includes Décor and indoor garden, Painting and wallpaper, Tools and hardware, Building materials, Lighting et al.  Apart from essentials, retailers in this industry are witnessing solid demand for gardening and other in-house activity-related products.

Although states are reopening and people are reporting back to work, the emergence

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