Home Depot raised its 2010 outlook, and expects both sales and profits to rise in 2011, when it plans to open 10 new stores. The nation's biggest home improvement retailer expects sales to rise approximately 2.3%, up from a previously projected 2.2% gain.
The nation's largest home improvement retailer reported that its third quarter net earnings rose a higher-than-expected 21% due to lower expenses and cost cuts. Additionally, Home Depot raised its fiscal 2010 earnings outlook.
The home improvement retailer beat earnings expectations but sales fell below estimates as consumers continue to hold back on spending due to economic concerns.