Home Improvement retail rivals Home Depot and Lowe's reported their first quarter financials earnings on Tuesday and Wednesday, with Home Depot winning the battle for the spring season.
Home Depot's profit and revenue were above Wall Street expectations as the company raised projections for both in 2015.
Home Depot's revenue for Q1 was $20.89 billion, a 6.1 percent year-over-year increase. Profit was $1.58 billion, up from $1.38 billion last year. Sales at U.S. stores open at least a year was also better than most had expected, rising 7.1 percent.
"We had a stronger than expected start to the year as we experienced a more normal spring across much of the country and continued recovery of the U.S. housing market," said Chairman and CEO Craig Menear.
Fortune reported that Home Depot's first quarter online sales jumped 30 percent from a year ago, with more than 40 percent of those sales picked up inside the store. Fortune also noted that when a customer goes to a Home Depot to pick up an item they purchased online, they wind up buying more in the store 20 percent of the time.
Meanwhile, Lowe's did increase year-over-year Q1 sales from $13.4 billion last year to $14.13 billion, and profit from $624 million to $673 million. Analysts expected revenue of $14.23 billion.
Sales at stores open at least a year rose 5.2 percent.
