May 19, 2020 / 10:17 AM / 12 days ago

Home Depot reports over 6% rise in same-store sales

May 19 (Reuters) - Home Depot Inc reported a 6.4% rise in quarterly same-store sales on Tuesday, as the COVID-19 pandemic caused a surge in demand for cleaning supplies and masks at the home improvement chain's stores.

Home Depot also scrapped its full-year outlook.

The company's net earnings fell to $2.25 billion, or $2.08 per share, in the first quarter ended May 3, from $2.51 billion, or $2.27 per share, a year earlier, as it spent heavily to compensate its store employees working during the health crisis.

Total net sales rose to $28.26 billion from $26.38 billion. (Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli)

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