By Dave Sebastian

 

Home Depot Inc. posted higher profit for the fourth quarter as same-store sales rose.

The home-improvement retailer on Tuesday posted net income of $2.48 billion, or $2.28 a share, compared with $2.34 billion, or $2.09 a share, in the comparable quarter last year. Analysts polled by FactSet had expected $2.10 a share.

The Atlanta-based company said sales for the quarter ended Feb. 2 declined 2.7% to $25.78 billion. Analysts were expecting sales of $25.76 billion. The company said an extra week of operations in the comparable period in 2018 added $1.7 billion to sales.

Same-store sales were up 5.2% for the period, ahead of the 4.7% analysts were looking for. U.S. same-store sales rose 5.3%.

The company on Tuesday also raised its quarterly dividend by 10% to $1.50 a share, payable March 26 to shareholders as of March 12.

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

February 25, 2020 06:30 ET (11:30 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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