Home Depot Inc. shares declined after the home-improvement retailer reported higher costs and a plan to spend $1 billion to boost annual compensation for front-line hourly employees. Unlike other retailers, like Walmart Inc., that are reporting fewer transactions but larger tickets, Home Depot is seeing gains in both metrics. Company executives said the pro business unit is posting the strongest growth it has seen all year. Home Depot shares fell as much as 2.9% in in New York trading. The retailer’s shares had risen 28% this year through Monday’s close, outpacing the S&P 500 Index.

Source: Mint November 17, 2020 14:37 UTC