Home Depot posts rise in income
ATLANTA — Home Depot’s fiscal fourth-quarter net income rose 32 percent on tight cost controls and favorable weather as sales grew.
Home-goods sellers like Home Depot and others are facing cautious consumer spending and prolonged weakness in the housing market. They’ve had to adjust to fewer consumers making large-scale home renovations by cutting costs and improving services such as online shopping and customer service.
The world’s biggest home-improvement company reported Tuesday that it earned $774 million, or 50 cents per share, for the period ended Jan. 29. That’s up from $587 million, or 36 cents per share, a year earlier.
Home Depot’s stock added 20 cents to $46.91 in premarket trading
