A quick glance at its fourth-quarter results might make that seem less apparent, with revenue up 14% and GAAP earnings per share 7.1% higher. The caveat is that Home Depot's fiscal fourth quarter was 14 weeks, compared to 13 weeks in the prior year's period, with that extra week generating about half of Home Depot's revenue growth in Q4.

Home Depot generated $39.7 billion in sales in the fourth quarter, a hearty 14% increase over the same quarter a year ago. That was slightly better than the $39.16 billion that analysts had projected.

Home Depot broke a two-year slump in same store sales during the fourth quarter as customer demand improved in a housing market that has been buffeted by soaring mortgage rates and a scarcity of homes up for sale.