Home Depot Inc. lifted its forecast for a key sales metric after adverse weather propped up demand for home-improvement materials in the latest quarter.
Comparable sales declined 1.3% in the period ending Oct. 27, better than what Wall Street analysts were expecting during a time when high interest rates have weighed on the housing market. It was the company’s best quarterly sales performance in almost two years.
Home Depot saw a pickup in demand for seasonal items and supplies for certain outdoor projects, some of which was related to hurricanes that have struck the U.S.