DIY giant Home Depot increases profit forecast

6.4 % turnover growth on a like-for-like basis

The Home Depot’s second quarter turnover grew 5.7 % to 23.8 billion dollars (18 billion euro) and in stores that have opened more than a year ago, there was a 6.4 % increase.

Net profit also grew strongly: it was 1.8 billion dollars a year ago and grew to nearly 2.1 billion dollars now (1.6 billion euro). That prompted the group to increase its full-year profit forecast to 4.52 dollars profit per share (from 4.42 dollars per share before), on the back of a previous profit forecast increase in May. The forecast for turnover growth has remained unchanged: 4.8 % for the full fiscal year.

The Home Depot, with 2.264 stores across the United States, Canada and Mexico and more than 300,000 employees, is an excellent guideline for the American housing market and therefore for the entire American economy.