Locked-down Americans’ enthusiasm for home-improvement projects helped guide Home Depot and Lowe’s Cos. sales to growth in the latest quarter, but it can’t save the retailers from the foggy postcoronavirus housing economy. Net sales at both Home Depot and Lowe’s exceeded expectations, rising 7.1% and 10.9% year over year, respectively. Only Lowe’s beat earnings-per-share estimates, with Home Depot citing higher labor and sanitation costs associated with Covid-19. Home Depot and Lowe’s shares are beating the broad market and...

Source: Wall Street Journal May 20, 2020 16:40 UTC