Home Depot raises outlook after strong quarter

|By:, SA News Editor

Home Depot (HD) saw comparable store sales rise 10.7% during Q2 on strong store traffic. Analysts had forecast a gain of 7% to 8%.

The housing recovery was a major influence, but Home Depot also gained efficiencies at stores. SG&A expenses rose 5.6%, much lower than sales growth.

The company sees FY13 EPS of $3.60 on 4.5% revenue growth, up from prior guidance of $3.52 and 2.8% growth. (PR)

HD +4.1%