ATLANTA — Months into the pandemic, consumer investment in home projects continues to boom, leading Home Depot’s Q3 sales to surge by 24 percent. Earnings of $3.18 per share compared to a forecast of $3.06 and were up from $2.53 a year earlier. Revenues came to $33.54 billion, topping analyst expectations of $32.04 billion and the previous Q3’s sales of $27.22 billion. Same-store sales in the U.S. were up by 24.6 percent.
The company’s ongoing wage top-ups during the COVID-19 pandemic are being turned into permanent compensation enhancements for frontline, hourly associates. This will result in approximately $1 billion of incremental compensation on an annualized basis.
