Home Depot bests Q4 expectations

ATLANTA  — Home Depot reported same-store sales were up 8.9% in the U.S. during Q4, as recovery in the U.S. housing market contributed to an increase in demand. Analysts had expected an average increase of 5.3%. Rising home prices and wages have benefited the company, which announced a $5 billion share buy-back plan at the same it released the results. Home Depot also avoided the holiday slump affecting many retailers this year. Net earnings rose to $1.47 billion, or $1.17 per share, in the quarter, from $1.38 billion, or $1.05 per share, a year earlier. Net sales rose to $20.98-billion. Analysts on average had expected earnings of $1.10 and sales of $20.39-billion.