Home Depot’s second-quarter net income jumped 18 percent, helped by an improving housing market and good response to holiday events.
The nation’s biggest home improvement retailer’s results beat Wall Street expectations, and the company raised its full-year earnings and revenue expectations.
A slowly improving employment landscape and extremely low interest rates this year have created such great demand that homebuilders are having some difficulty securing land and keeping pace. That’s good news for home-improvement retailers because as home values improve, customers feel more comfortable investing money in projects for their home.
Home Depot’s smaller rival Lowe’s Cos. will report results Wednesday.