Home Depot Posts Gains

Home Depot (Atlanta) announced earnings for its second quarter, which saw performance gains in a number of areas. Among them, the retailer’s revenue increased for the sixth consecutive quarter to $24.83 billion.

The company also experienced its highest quarterly average receipt since 2006 of $59.42, an increase of 1.7 percent. The store’s departments that performed the best included appliances, tools, decor and lighting.

The amount of transactions also rose 2.6 percent, and transactions for receipts over $900 rose 6.3 percent. Same-store sales increased 4.2 percent.

According to U.S. News & World Report, some of these gains can be attributed to a shift in the way Americans are spending their money by purchasing homegoods, electronics and vehicles rather than clothing.

The retailer expects sales for the year will grow by 5.2 to 6 percent with profits increasing 13 to 14 percent.