Fast Money Blog- 8/20/21

The big story this week surrounded Home Depot earnings.

The story around HD earnings has some complexity, so here goes:

Early Tuesday, August 17th, The Home Depot, Inc. (HD) reported second-quarter 2021 earnings. For the three months that ended on Aug. 1st, the company posted top-line revenue of $41.1 billion, an increase of 8% year-over-year. In addition the average ticket was 11.3% larger.

However, U.S. same-store sales rose only 3% compared with a 25% rise in the year-ago period; and customer traffic was down, falling 6%. But both of the aforementioned (sales and customer traffic) declines can be attributed to the pandemic.

Like most retailers, Home Depot experienced a revenue rise during the pandemic, and now revenues are continuing to grow at historical rates.

Stay Open! Stay Positive!

Tyrone Jackson

The Wealthy Investor