Home Depot Results Are Mixed as Wet Spring Weighs on Growth

(Bloomberg) -- Home Depot Inc. failed to fully rebound from a lackluster end to last year, with the company saying a calendar adjustment added to the drag from wet weather.

• First-quarter same-store sales -- a key gauge of a retailer’s success -- rose 2.5%, trailing estimates of 4.3% compiled by Consensus Metrix. However, the company said a calendar shift reduced this growth metric by 330 basis points. First-quarter earnings per share rose to $2.27, topping projections of $2.18.

Key Insights

Market Reaction

• Home Depot rose as much as 0.9% in premarket trading Tuesday. The stock had gained 11% this year through Monday’s close.

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