Home Depot beats quarterly same-store sales estimates

(Reuters) – Home Depot Inc beat quarterly same-store sales estimates on Tuesday, as a surge in demand for tools, gardening equipment and building materials from people upgrading their homes during the coronavirus pandemic extended for another quarter.

Same-store sales rose 24.1% in the third quarter ended Nov. 1, beating analysts’ average estimate of a 14.8% increase, according to IBES data from Refinitiv.

(Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli)