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Home Depot Says Shoppers Are Resilient as Inflation Erodes Transactions

  • Sales driven by higher prices outpace analysts’ estimates
  • CEO says company will take market share ‘in any environment’
A Home Depot store in New York.

A Home Depot store in New York.

Photographer: Victor J. Blue/Bloomberg

Updated on

Home Depot Inc. reported sales and profit that exceeded expectations as a backlog of home improvement projects that piled up during the pandemic continue to drive growth.

The company’s comparable sales rose 4.3% in the quarter ended Oct. 31, surpassing the 3% gain from analysts surveyed by Bloomberg. Earnings per share of $4.24 also beat the estimate.