Home Depot Q2 Customer Transactions Decline 5.8%

Home Depot Inc HD reported second-quarter FY21 sales growth of 8% year-on-year, to $41.10 billion, beating the analyst consensus of $40.73 billion.
Customer transactions for the quarter fell 5.8%.
Comparable sales increased 4.5%, and comparable sales in the U.S. rose 3.4%.
Gross profit rose 5.6% Y/Y to $13.7 billion.
The operating margin was 16.1%, and operating income for the quarter rose 9.4% to $6.6 billion.
The company held $4.6 billion in cash and equivalents as of August 1, 2021.
Net cash provided by operating activities for the six months totaled $9.9 billion.
EPS of $4.53 beat the analyst consensus of $4.43.
"I am very proud of our associates, who continue to demonstrate a relentless focus on serving our customers. As a result of their efforts, we achieved a milestone of over $40 billion in quarterly sales for the first time in Company history," said chairman and CEO Craig Menear.
Price Action: HD shares are trading lower by 4.55% at $319.79 on the last check Tuesday.