Dive Brief:

• The Home Depot reported on Tuesday that sales rose 6.6% to $26.5 billion in the second quarter. Net earnings were $2.4 billion, in line with analyst expectations from Thomson Reuters and up from $2.2 billion in the same period last year. 

• Overall Q2 same-store sales rose 4.7%, beating out Retail Metrics' consensus forecast for 4.2%, while U.S. same-store sales rose 5.4%, compared with Thomson Reuters' forecast for 5.2%. 

• Home Depot held its full-year guidance after raising it last quarter, estimating that revenue will rise 6.3%.

Dive Insight:

Home improvement retailers like Home Depot continue to benefit as Americans open up their wallets to invest in their homes, thanks to an environment characterized by low interest rates and favorable home prices.

Home improvement retailers have also been mostly sheltered from the "Amazon effect," the e-retailer’s ability to overshadow brick-and-mortar stores in the market. Much of Home Depot's vast assortment is not sold — or is hard to sell — through e-commerce sites.

CEO Menear believes the strong housing trends will continue to bolster Home Depot's business. 

“We had a solid quarter, achieving the highest quarterly sales and net earnings results in company history as housing continues to be a tailwind for our business,” Chairman/President/CEO Craig Menear said in a statement. 

The steady results come in stark contrast to the ongoing struggles of apparel retailers and department stores. While department stores rallied this week, they’ve faced dismal quarters of late, making home improvement an enviable segment.

"Relatively speaking, especially for a company of this size, to put up a 5.4% comp is pretty good," Oppenheimer senior analyst Brian Nagel told CNBC's "Squawk Box.” "As the market comes to this realization they're going to say, well, this is still one of the very best places in retail to be.”