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Consumers spent big at Home Depot

Home Depot's spring marked a dramatic turnaround from its ugly winter.The company posted $30.5 billio...

Posted: Aug 14, 2018 5:16 PM
Updated: Aug 14, 2018 5:16 PM

Home Depot's spring marked a dramatic turnaround from its ugly winter.

The company posted $30.5 billion worth of sales last quarter, up 8.4% from a year ago. That's stunning growth -- particularly for a retailer as gigantic as Home Depot.

The strong spring led Home Depot to boost its outlook for the year.

It stood in stark contrast from the first quarter, when Home Depot chairman and CEO Craig Menear blamed snowy weather for a "a slow start to the spring selling season."

"We were very pleased with our record second quarter sales and earnings. Not only did our seasonal business rebound from the first quarter, but our overall results exceeded our expectations," Menear said in a statement Tuesday.

Both Home Depot and rival Lowe's are somewhat Amazon-proof. Many professional builders and DIY consumers prefer to go to home improvement stores for building materials as opposed to buying online at Amazon.

Lowe's will release its latest earnings on August 22.

Home Depot wasn't the only retailer to report strong results Tuesday.

Tapestry, the owner of the Coach, Kate Spade and Stuart Weitzman brands, also reported earnings that exceeded analysts' estimates. It raised its outlook as well.

The good spending news may also bode well for other retailers, some of which report their earnings later this week. Macy's, Walmart, JCPenney and Nordstrom are all on tap.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 292811

Reported Deaths: 6613
CountyCasesDeaths
DeSoto19560229
Hinds18674385
Harrison16512276
Rankin12595262
Jackson12451217
Lee9663160
Madison9400195
Jones7891145
Forrest7140136
Lauderdale6784225
Lowndes6008137
Lamar584480
Lafayette5707113
Washington5159128
Bolivar4594120
Oktibbeha439991
Panola426892
Pearl River4116128
Warren4114113
Pontotoc407368
Marshall399492
Monroe3980126
Union392873
Neshoba3767166
Lincoln3464100
Hancock339973
Leflore3358118
Sunflower317185
Tate300874
Pike298393
Scott292567
Alcorn290360
Itawamba288871
Yazoo283862
Tippah275665
Copiah274557
Coahoma272766
Simpson271778
Prentiss268658
Leake251770
Wayne251340
Marion250778
Covington247878
Grenada245876
Adams233277
George230645
Newton224751
Winston220275
Jasper211844
Tishomingo211765
Attala206269
Chickasaw200650
Holmes181670
Clay178149
Stone171429
Tallahatchie169839
Clarke168671
Calhoun156428
Smith151831
Yalobusha142936
Greene126833
Walthall123540
Noxubee122729
Perry121434
Montgomery121237
Lawrence119321
Carroll117623
Amite110832
Webster109929
Jefferson Davis100531
Tunica98623
Claiborne97729
Benton93124
Humphreys91626
Kemper89522
Quitman77014
Franklin75519
Choctaw69516
Wilkinson62226
Jefferson61427
Sharkey48817
Issaquena1676
Unassigned00

Alabama Coronavirus Cases

Cases: 491110

Reported Deaths: 9831
CountyCasesDeaths
Jefferson706291356
Mobile35894721
Madison32255442
Tuscaloosa23996409
Montgomery22462494
Shelby21820215
Baldwin19670274
Lee14900150
Morgan13599249
Calhoun13175285
Etowah13143319
Marshall11226206
Houston10048259
Elmore9337183
Limestone9335134
Cullman8869179
St. Clair8783220
Lauderdale8581210
DeKalb8429174
Talladega7481163
Walker6504251
Jackson6477102
Autauga620389
Blount6086125
Colbert5978118
Coffee5230102
Dale4621106
Russell401831
Franklin397876
Covington3956106
Chilton384298
Escambia377172
Tallapoosa3572141
Clarke342949
Dallas3397141
Chambers3392108
Pike293071
Lawrence281384
Marion280894
Winston246166
Bibb244260
Geneva238670
Marengo233354
Pickens223954
Barbour209951
Hale208868
Fayette199756
Butler195165
Henry182041
Cherokee176438
Monroe165938
Randolph163140
Washington156634
Crenshaw143554
Clay143354
Macon140943
Cleburne136839
Lamar131732
Lowndes130648
Wilcox120825
Bullock116336
Conecuh106523
Perry105327
Sumter98431
Coosa87823
Greene87032
Choctaw54823
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