Home Depot crushes it again; ups outlook for the year
ATLANTA — Home Depot, with unemployment falling, mortgage rates near historic lows and wages and home prices rising, upped its outlook for the year as sales surged in the third quarter and customers spent more with each visit.
Shares, having already touched an all-time high this year, climbed nearly 2 percent in premarket trading Tuesday, after Home Depot extended a streak of surprisingly strong earnings.
Home Depot and rival Lowe’s have stood out from other retailers for several years now, thanks in part to ultralow mortgage rates that have led to a warming housing market and an increase in refinancing.