After slow start, HD posts Q1 gains
The Home Depot this morning reported first quarter sales of $19.7 billion, up 2.9% from last year’s first quarter. Comparable-store sales were up 2.6%. Comp-store sales for U.S. stores were positive 3.3%.
The Atlanta-based retail giant also reported double-digit growth in net earnings — up 12.5% to $1.38 billion.
"The first quarter was impacted by a slow start to the spring selling season," said Frank Blake, chairman and CEO. "But we had solid results in non-weather-impacted markets and expect our sales for the year to grow in line with the guidance we previously provided."
That guidance calls for 2014 sales to be up about 4.8% from the previous year.
At the end of the first quarter, Home Depot operated a total of 2,263 stores. No new stores were opened in the first quarter.
Breaking down the company’s sales performance during the first fiscal quarter’s three months, Carol Tome said comps for U.S. stores were up 2.8% in February, up 4.6% in March and up 2.8% in April.
New KB Home Design Studio brings hands-on selection to D.C.
KB Home celebrated the grand opening of its new KB Home Design Studio on Friday in the D.C. metro area. The showroom takes its cues from retail stores and gives would-be homeowners the opportunity to see and touch their custom options up close.
Among the features on display are design choices for flooring lighting, cabinetry, appliances, energy-efficient features and home automation technologies. Bath fixture and lighting displays, as well as life-size kitchen vignettes, help bring options to their proper scale and visibility.
Trained design professionals are also on the scene to offer personal assistance to potential buyers.
“Choice is at the heart of KB Home’s unique homebuilding approach, and we want to give our buyers the best resources available to empower them to design a new home that is truly their own,” said Tom Dunn, president of KB Home’s Washington, D.C. metropolitan division. “With our new, upgraded Design Studio, KB Home customers will have an incredible array of helpful tools and information at their disposal to make decisions and further enjoy their KB homebuying experience.”
In celebration of the grand opening, KB Home shelled out complimentary food, product demonstrations and events at the Reston, Virginia Design Studio last Saturday.