Extra Week Boosts Home Depot in Q4
Here's our initial take on Home Depot's (NYSE: HD) fourth-quarter financial results.The past couple of years have been challenging for Home Depot and its home improvement retailing peers. Between the sharp rise in interest rates pounding the housing market and making home improvement projects more expensive, there is less incentive for many people to visit its stores.A quick glance at its fourth-quarter results might make that seem less apparent, with revenue up 14% and GAAP earnings per share 7.1% higher. The caveat is that Home Depot's fiscal fourth quarter was 14 weeks, compared to 13 weeks in the prior year's period, with that extra week generating about half of Home Depot's revenue growth in Q4.Continue reading
Here's our initial take on Home Depot's (NYSE: HD) fourth-quarter financial results.
The past couple of years have been challenging for Home Depot and its home improvement retailing peers. Between the sharp rise in interest rates pounding the housing market and making home improvement projects more expensive, there is less incentive for many people to visit its stores.
A quick glance at its fourth-quarter results might make that seem less apparent, with revenue up 14% and GAAP earnings per share 7.1% higher. The caveat is that Home Depot's fiscal fourth quarter was 14 weeks, compared to 13 weeks in the prior year's period, with that extra week generating about half of Home Depot's revenue growth in Q4.
