Today, as part of its five-year expansion of its delivery offerings for its professional and DIY (do-it-yourself) customers, Home Depot (HD) launched its express delivery service, which will deliver more than 20,000 of its products on the same day or the following day in 35 major markets in the United States.
To offer the new delivery service for smaller products, Home Depot has partnered with Roadie and Deliv. For the delivery of bulk products, the company is expanding its supply chain network. Earlier, in June, the company announced that it would be spending $1.2 billion over the next five years on strengthening its supply chain and improving its delivery speed.
The announcement had a positive impact on the company’s stock price. As of 10:40 AM EDT, Home Depot was trading at $208.43, a rise of 0.5% from its previous day’s close.
In its latest quarter, which ended on July 29, Home Depot posted adjusted EPS of $3.05 on revenue of $30.46 billion, outperforming analysts’ estimate of EPS of $2.84 on revenue of $30.03 billion. The company also beat analysts’ SSSG (same-store sales growth) estimate of 6.6% with SSSG of 8.0%.
For more details on Home Depot’s second-quarter performance, read Home Depot Raises Its Guidance after Strong Q2 2018 Earnings.
After posting its second-quarter earnings results, Home Depot raised its 2018 revenue growth guidance to 7.0% from the earlier estimate of 6.7%. Its management also raised its EPS guidance from $9.31 to $9.42, which represents a rise of 29.2% over 2017.