Home Depot beats quarterly same-store sales estimates

FILE PHOTO: The logo of Home Depot is seen in Encinitas, California April 4, 2016. REUTERS/Mike Blake/File Photo

(Reuters) – Home Depot Inc beat quarterly same-store sales estimates on Tuesday, riding a sustained wave of demand for home improvement goods as the COVID-19 pandemic drags on.

Same-store sales rose 24.5% in the fourth quarter ended Jan. 31, beating analysts’ average estimate of an 18.9% increase, according to IBES data from Refinitiv.

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