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Bad weather didn't deter Home Depot

Tuesday, May 20, 2014 - 01:11

May 20 - Home Depot managed to boost sales and profit despite the bad weather. Analysts say pent-up demand for repairs bodes well for the retailer. Fred Katayama reports.

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Home -- managed to boost earnings and revenue in the latest quarter despite the harsh winter weather. It acknowledged that sales got off to a slow start this spring but did well in areas where whether it was not an issue. Selling part of its stake in distributor -- supply holdings also helped lift earnings. America's largest home improvement retailer raised its full year profit outlook and stuck to its sales growth forecast. JPMorgan analyst Christopher or -- was a buy rating on Home Depot says that suggest that same store sales that's what accelerate in the second quarter. And implies at home people remains positive on the overall backdrop for home improvement spending. Home Depot is considered a Bellwether for a housing and the US economy. The recovery in the housing market had boosted Home Depot driving its stock up by a third last year. But worries over the weather have pressure this stock this year. Credit Suisse which rates on people -- says the stock is cheap. Given the pent up demand for repairs and opportunities to -- -- ailing seniors market share. Arch rival Lowe's reports earnings on Wednesday.

Bad weather didn't deter Home Depot

Tuesday, May 20, 2014 - 01:11

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