Home Depot’s latest quarterly results have competitors in awe, CNBC’sJim Cramer said Tuesday.
The home improvement giant and Dow component posted better-than-expected fiscal fourth-quarter earnings and revenue, as U.S. same-store sales rose 8.9 percent.
“This is the kind of quarter where you just think it’s not possible. I looked at this quarter, I said 8.9? … There must be something wrong with this press release,’ because you can’t do those kinds of numbers in America,” Cramer said on “Squawk on the Street.” “How do they do it? All the other retailers are saying ‘wow.'”
Home Depot’s stock was up nearly 1 percent midmorning Tuesday.
Cramer also said the company’s shares are going to rise even more as spring comes along. “Home Depot likes to set the bar low for their spring selling season, which is their Christmas … and then they just blow it away,” he said.
“Anybody who does planting, like I do, Home Depot is where you go.”
Disclosure: Cramer’s trust did not own shares of Home Depot when this article was published.
[“source -cncb”]
