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Article: Home Depot 2Q profit beats expectations
- Article from:
- AP Online
- Article date:
- August 18, 2009
- Author:
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Home Depot Inc. on Tuesday that its fiscal second-quarter profit fell 7 percent, as consumers continued to shy away from bigger purchases, but cost cutting and sales of smaller items such as paint and garden products helped results beat expectations.
The nation's biggest home-improvement retailer said total transactions in the U.S. increased year-over-year for the first time in five years and same-store sales rates improved in Florida and California, two of its most important _ and troubled _ markets. It lifted its guidance for full-year earnings from continuing operations.
Shares rose 74 cents, or 2.8 percent, to $26.85 during afternoon trading.
Still, similar to its ...