Boston, MA 05/21/2014 (wallstreetpr) – The Home Depot, Inc. (NYSE:HD) is the largest home construction and improvement products selling retail chain. According to the management of the company, the sales done in the months of May were robust. The CEO of the company expects that the coming months will be way better than the last quarter.
Please note that HD lost a major part of its revenues in the previous year. The reason behind the below standards performance was nothing but the severe winter. HD couldn’t do good business in the last quarter, but the Q1 and Q2 have brought above average success for the company.
Share of The Home Depot, Inc. (NYSE:HD) couldn’t beat the expectations in the previous quarter due to the negative approach of year 2013, but Q2 seems quite phenomenal. Recently the shares rose by an excellent rate of 2.7% in a day.
According to one of the spokespersons of HD, the sales of the company has improved in the Q2 because of increment in the demand of the landscape items like concrete. People need to repair their houses after harsh winter and rain, therefore the sales of the concrete has increased by a significant margin.
The Home Depot, Inc. (NYSE:HD) gets the major part of its revenues from the building contractors. There was hardly any construction work going on in the past months, therefore the revenues declined. Everything seems to come on track now, we are hoping that we will recover short sales of previous months in the current quarter, said one of the HD spokespersons.
Though analysts were quite skeptical about The Home Depot, Inc. (NYSE:HD), but it kept the sales growth predictions to 4.8% for the last year. The slow growth in the US real estate industry was one of the main reasons for their below expectations performance. Everyone will get to know in couple of months time If the current quarter will beat the market expectations or not.