Roffman Miller Associates Inc Pa scooped up 770 additional shares in Home Depot Inc during the most recent quarter end, the firm said in a disclosure report filed with the SEC on May 9, 2016.
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Americans are plowing money into homes as prices continue to rise.
The Home Depot’s same-store sales (a metric that excludes more recently opened stores in order to make the data more comparable over time) could rise by as much as 8 percent, according to a recent note from Jefferies. Ground breakings are running ahead of last year’s pace, largely because of a dramatic increase in the construction of single-family homes.
That is good news for Home Depot and for Lowe’s Companies Inc.
Analysts polled by Thomson Reuters forecasts a 6.8 percent jump in revenue for Home Depot in the three months ended May 1, to a record $22.31 billion from $20.89 billion in the same period previous year. Street analysts predict the home retailer to deliver earnings of $6.23 a share on revenues of $93.87 billion. (HD) on Tuesday reported fiscal first-quarter profit of $1.8 billion. Revenues of $22.8 billion were up 9% year over year and almost 2% above the consensus estimate.
Sales at stores open at least a year, a key indicator of a retailer’s performance, climbed 6.5 percent.
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“We were pleased with our stronger than expected start to the year, driven by solid execution and broad-based growth across the store”, said Chief Executive Craig Menear, adding the quarter was “marked by week-to-week demand spikes caused by weather variability”. (The Home Depot) is a home improvement retailer. Revenue is expected to be up about 6.3 percent, with same-store sales now anticipated to rise approximately 4.9 percent. Both Home Depot and Lowe’s have been pushing “Spring Black Friday” sales in recent years in an effort to copy holiday sales promotions. The Home Depot stores average approximately 104,000 square feet of enclosed space, with approximately 24,000 additional square feet of outside garden area.
