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Shares of

Dwelling Depot

rose barely in premarket buying and selling Tuesday after the corporate reported third-quarter earnings that beat earnings expectations because of continued demand for house enchancment amid a powerful housing market.

Income for the No. 1 home-improvement retailer rose 9.8% to $36.82 billion, effectively above the FactSet consensus of $34.95 billion. Identical-store gross sales grew 6.1%, beating consensus of two.4% development, whereas U.S. same-store gross sales rose 5.5% to prime expectations of a 2.3% enhance.

Web revenue for the quarter to Oct. 31 elevated to $4.13 billion, or $3.92 a share, from $3.43 billion, or $3.18 a share, within the year-ago interval.

Analysts surveyed by FactSet anticipated Dwelling Depot to earn $3.41 a share on income of $34.8 billion within the fiscal third quarter. Dwelling Depot earned $4.53 within the earlier quarter and $4.02 a share within the year-ago interval, in response to FactSet.

Learn extra: It’s a Massive Week for Retail. Right here’s What to Know.

The inventory, buying and selling close to the Nov. 12 document shut of $372.63, rose 0.3% in premarket buying and selling to $372. It has run up 39.7% yr up to now by Monday, whereas the

Dow Jones Industrial Common
has superior 17.9%.

Write to Logan Moore at [email protected]’s.com