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Home Depot with 41% growth of profit

The profit of the U.S. retail chain Home Depot for home for the fiscal first quarter jumped by 41% annualized forward Wall Street Journal. The company increased its forecast for sales and profits this year. The results of Home Depot reinforced signals that Americans slowly recover their consumption. However, industry retail sales remained cautious in view of the uncertain economic outlook. Home Depot now expects full-year profit of around 1.88 dollars a share and sales growth by about 3.5 percent. In February, the company forecast profit for the year of 1.79 dollars per share and increased sales by 2.5 percent. For the quarter ended May 2, Home Depot has a profit of 725 million dollars, or 43 cents a share, for 514 million dollars (30 cents per share) positive financial results a year ago. The company was making high investments into the marketing and financed this with fixed rate remortgage, which was got under very low interest level.
The revenue rose 4.3 percent to 16.86 billion dollars.