Housing market strength underpins Home Depot's holiday-quarter results

) benefited from a solid U.S. housing market and higher job growth that led consumers to spend more at its stores in the holiday shopping quarter, helping the home improvement chain beat sales and profit estimates.

The U.S. housing market has gained from the lowest mortgage rates in more than three years after the Federal Reserve lowered borrowing costs thrice in 2019. “Our fourth quarter results reflect strength in our core business, solid execution around our holiday events and the overall health of the consumer,” said Home Depot Chief Executive Officer Craig Menear.

The strong rise in sales also indicates that investments in the marriage of Home Depot’s online and brick-and-mortar businesses is staring to pay off, boding well for this fiscal year, Jefferies analysts wrote.

0114-GA

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Home Depot shares rise after earnings top estimates, backs 2020 business outlookHome Depot's earnings report will shed light on whether its significant investments in the company are paying off. JoeBiden Democrats are working to restore voting protections and ensure every American can exercise the right to vote LeaderHoyer
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves midday: Home Depot, Moderna, Mastercard, Shake Shack and moreThese are the stocks posting the largest moves in midday trading. I hope to see GM buy a stake in Tesla while United buys a large portion of it's stock back. brikeilarcnn CNNPolitics cnnbrk BernieSanders We didn't take it out of context you all did. All Bernie ment was that even Castro how evil he was wanted his people to read and write. Therefor Bernie wants oppertunities for all with a free education without debt.
Source: CNBC - 🏆 12. / 72 Read more »