Shares of home improvement retailer Lowe's jumped 9 percent Wednesday, after the company reported sales and earnings that topped Wall Street's forecasts.
The chain also issued a better-than-expected outlook for fiscal 2017, citing a solid housing backdrop and internal improvements as drivers.
With shares trading over $81, here are five pieces of the company's report that stoked investors' optimism.
Store traffic increased and picked up
As most bricks-and-mortar retailers struggle to get shoppers in their stores, traffic in Lowe's established shops grew by 1.1 percent during the holiday quarter.
That uptick helped drive the company's 5.1 percent comparable sales increase and marked an acceleration from the third quarter. During that prior three-month period, transactions — often used as a proxy for traffic — grew just 0.5 percent.
Big growth in big-ticket transactions
Though sales were up across all price brackets, Lowe's saw particular strength in receipts that rang in at above $500. Boosted by a lift in the chain's professional business, as well as gains in kitchen and appliances, the company saw a 9 percent increase in transactions worth more than $500.