The world’s largest home improvement retailer raised its earnings expectations as it announced first quarter sales and earnings gains that beat the Street.
Net earnings for the first quarter of fiscal 2017 were $2.0 billion, better than expected, compared with net earnings of $1.8 billion, in the same quarter last year. For the first quarter of fiscal 2017, diluted earnings per share increased 16.0% from the same period in the prior year.
Sales increased 4.9% to $23.9 billion for the first quarter. Comparable store sales increased 5.5%, as comp-store sales for U.S. stores surged 6.0%, easily beating expectations.. . . more