Home Depot Inc. raised its annual profit and sales forecasts on Tuesday, easing concerns that demand for home-improvement tools and building materials would take a hit amid surging inflation.
The company’s shares rose as much as 5 percent to $310.78 as Home Depot’s first-quarter comparable sales increased, driven by higher sales of plumbing, building materials, and paint, even as it flagged a late start to the spring selling season.
