Home Depot’s Q1 sales rise, earnings miss estimates

ATLANTA — Home Depot’s sales rose in the first quarter but costs related to the pandemic, such as employee bonuses and reduced hours, ate into the retail giant’s earnings. Sales rose 7.1 percent to $28.26 billion, besting estimates of $27.54 billion, with same-store sales up 6.4 percent. Net earnings dropped by 10.7 percent to $2.25 billion, or $2.08 per share. Analysts had forecast earnings of $2.27 per share.