Americans being stuck at home has led to an explosive year for Home Depot and its latest quarter is no exception. Third-quarter sales surged 23% and the home improvement chain beat expectations by almost any measure.
Revenue totaled $33.54 billion for the three months ended Nov. 1, topping the $31.83 billion that analysts polled by FactSet predicted.“We saw the continuation of outsized demand for home improvement projects, which has led to sales growth of more than $15 billion through the first nine months of the year,” Chairman and CEO Craig Menear, said in a prepared statement.Sales at stores open at least a year, a key gauge of a retailer's health, climbed a stunning 24.1%, topping even the lofty projections for a 17.2% increase on Wall.