Home Depot high on ’11
Home Depot, the largest US home improvement retailer, raised its full-year profit forecast after second-quarter profit exceeded analysts’ estimates, spurred by increased traffic and spending by customers.
Net income advanced 14 percent to $1.36 billion, or 86 cents a share, in the quarter ended July 31, from $1.19 billion, or 72 cents, a year earlier.
Revenue from Home Depotstores open at least 12 months climbed 4.3 percent. Revenue gained 4.2 percent to $20.2 billion.
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