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BRIEF-Home Depot on conf call- Q1 drivers behind increase in big-ticket purchases were appliances, flooring and roofing
May 16, 2017 / 2:21 PM / 4 months ago

BRIEF-Home Depot on conf call- Q1 drivers behind increase in big-ticket purchases were appliances, flooring and roofing

May 16 (Reuters) - Home Depot Inc

* On conf call- Q1 online sales grew approximately 23%

* On conf call- Q1 Interline sales growth outpaced the company average

* On conf call- appliances, lumber and flooring had double-digit comps in Q1

* On conf call- building materials, millwork, hardware, lighting, paint and outdoor garden grew below the company average in Q1

* Commodity price inflation in lumber, building materials and copper positively impacted average ticket growth by about 75 basis points

* In Q1, transactions over $900, which represent approximately 20% of sales, were up 15.8%

* In Q1, drivers behind increase in big-ticket purchases were appliances, flooring and roofing

* For the remainder of the fiscal year, intend to repurchase approximately $3.75 billion of outstanding stock

* CFO- “ while U.S. GDP forecasts are mixed, housing continues to be a growing asset class, and our sales thus far in May has been very good”

* CEO- have invested to take share in categories that overlap with key competitors who have been having challenges Further company coverage:

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