Home Depot overcomes slow start to year

Home Depot’s first-quarter sales improved despite a slow spring start and the home improvement chain raised its full-year guidance.

Revenue increased about 4% to $38.91 billion, easily beating Wall Street expectations, according to a survey of analysts by Zacks Investment Research.

Sales at stores open at least a year, a key indicator of a retailer’s health, climbed 2.2% globally, and 1.7% in the U.S.

Home improvement stores have remained busy during the pandemic as people working from home took on new projects and now they’re in their traditional busy spring season as home owners head out for gardening and landscaping goods.

Home Depot earned $4.23 billion, or $4.09 per share, for the quarter, also topping analyst per-share projections of $3.67. A year earlier the Atlanta company earned $4.1 billion, or $3.86 per share.