Home Depot Plans $1 Billion Increase For Frontline Staff After Q3 Earnings Beat

Home Depot Inc. posted stronger-than-expected third-quarter earnings Tuesday while noting it plans to spend around $1 billion on bonuses and compensation increases for its frontline workers.



Home Depot Plans $1 Billion Increase For Frontline Staff After Q3 Earnings Beat


© TheStreet
Home Depot Plans $1 Billion Increase For Frontline Staff After Q3 Earnings Beat

Home Depot said earnings for the three months ending on November 1 were pegged at $3.18 per share, up 25.7% from the same period last year and 13 cents ahead of the Street consensus forecast. Group revenues, Home Depot said, rose 23% to $33.5 billion, again topping analysts’ estimates of a $32 billion tally.

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Same-store sales, Home Depot said, surged 24.1% from last year, with a 24.6% gain for its U.S. operations, a figure that was firmly ahead of the Refinitiv forecast of 14.5%, as customers splashed-out on home improvements amid a record run for U.S. house prices.

“The third quarter was another exceptional quarter for The

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Home Depot Plans $1 Billion Increase For Frontline Staff After Q3 Earnings Beat; Shares Slide

Home Depot Inc. posted stronger-than-expected third quarter earnings Tuesday, while noting it plans to spend around $1 billion on bonuses and compensation increases for its frontline workers.



Home Depot Plans $1 Billion Increase For Frontline Staff After Q3 Earnings Beat; Shares Slide


© TheStreet
Home Depot Plans $1 Billion Increase For Frontline Staff After Q3 Earnings Beat; Shares Slide

Home Depot said earnings for the three months ending on November 1 were pegged at $3.18 per share, up 25.7% from the same period last year and 13 cents ahead of the Street consensus forecast. Group revenues, Home Depot said, rose 23% to $33.5 billion, again topping analysts’ estimates of a $32 billion tally.

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Same-store sales, Home Depot said, surged 24.1% from last year, with a 24.6% gain for its U.S. operations, a figure that was firmly ahead of the Refinitiv forecast of 14.5%, as customers splashed-out on home improvements amid a record run for U.S. house prices.

“The third quarter was another exceptional

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Nursing Homes Will Face New Frontline Staffing Requirements

Nursing assistants will be limited to eight residents as a means of ensuring safe, effective care, while task force will examine workforce recruitment and retention.

This story was written and produced by NJ Spotlight. It is being republished under a special NJ News Commons content-sharing agreement related to COVID-19 coverage. To read more, visit njspotlight.com.

Come February, New Jersey nursing homes must adhere to strict frontline staffing level requirements, the latest in a series of state reforms designed to improve resident care in an industry that has struggled to effectively respond to the pandemic.

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Gov. Phil Murphy signed legislation Friday that limits the responsibilities of nursing assistants to no more than eight residents during the day shift, something elder advocates and labor leaders said

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