Home Depot posts Q2 gains, hikes outlook

ATLANTA — Home Depot reported sales of $23.8 billion for the second quarter, a 5.7% increase from the second quarter last year. Comparable store sales were up 5.%, and comp sales for U.S. stores were positive 6.%. Net earnings for the second quarter were $2.1 billion, or $1.52 per diluted share, compared with net earnings of $1.8 billion, or $1.24 per diluted share, in the same period of fiscal 2013. For the second quarter of fiscal 2014, diluted earnings per share increased 22.6% from the same period in the prior year. Based on the results, the company expects diluted earnings per share to be up approximately 20.2% to $4.52 for the year.