Home Depot continued to deal with a pullback in spending from customers in its fiscal third quarter, but it was less severe than in the past, and its performance beat Wall Street’s expectations. The home improvement retailer also boosted its full-year revenue outlook.
Revenue for the Atlanta-based company improved 6.6% to $40.22 billion in the quarter. That topped the $39.31 billion that analysts surveyed by FactSet predicted.
Sales at stores open at least a year, a key gauge of a retailer’s health, slipped 1.3%. In the U.S., the figure fell 1.2%. Still, that’s a marked improvement from the second quarter, when sales at stores open at least a year declined 3.3% and dropped 3.6% in the U.S.
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