By Christiana Sciaudone
Investing.com — Add pools to the list of pandemic must-haves.
Pool (NASDAQ:) Corporation reported record sales over $1 billion and operating income for the first quarter as people added pools to their properties to stave off the boredom and spruce up their home lives.
Shares are up 8% to an all-time high.
The company warned that the second half of the year will bring tough comparisons to 2020.
“Looking ahead at the remainder of the year, we expect to achieve strong growth tempered by tougher comps in the back half of the year,” Chief Executive Officer Peter Arvan said in a statement.
Sales continued to benefit from elevated demand for residential pool products, driven by home-centric trends influenced by the Covid-19 pandemic, Pool said in a press release.
“Maintenance, replacement, refurbishment and construction activity remains strong as families create and expand home-based outdoor living and entertainment spaces, resulting in broad sales gains across nearly all product categories.”
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