Depot’s Q4 U.S. comp-store sales gain 5.3%
The world’s largest home improvement retailer says big investments are paying big dividends, and that’s for both in store and online.
The Home Depot reported comparable sales for the fourth quarter gained 5.3% in the U.S. They were up 5.2% overall.
Sales for the fourth quarter of fiscal 2019 were $25.8 billion compared to sales of $26.5 billion in the fourth quarter of fiscal 2018. Fiscal 2018 included an extra week of operations compared to fiscal 2019. The extra week added about $1.7 billion of sales to the fourth quarter of fiscal 2018.
"We are now two years into our multi-year investment program and have more conviction than ever that our strategic initiatives are creating a value proposition that is unique to the marketplace and will extend our leadership position for years to come,” said CEO Craig Menear. “Through the second year of our One Home Depot investment program, we have grown sales by over $9 billion dollars – a level of growth unmatched in our market.”
Net earnings for the fourth quarter of fiscal 2019 were $2.5 billion, compared to net earnings of $2.3 billion in the fourth quarter of fiscal 2018.
For the full year, Home Depot reported comp-store sales of positive 3.8% in the U.S.
Sales for fiscal 2019 were $110.2 billion compared to sales of $108.2 billion in fiscal 2018.
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The bottom line: For the full year, net income increased 1.1% to $11.2 billion, on sales of $110 billion. Those are billions with a “b.”
What the CEO said: "Fiscal 2019 was a record year for our business and one marked by significant progress as we invest to transform ourselves into The Home Depot of the future. We had a strong finish to the year as our fourth quarter results reflect strength in our core business, solid execution around our holiday events and the overall health of the consumer," said Craig Menear, chairman, CEO and president.
For more: Read about the latest supply chain investment here. And the full Q4 earnings release here.
The Home Depot reported comparable sales for the fourth quarter gained 5.3% in the U.S. They were up 5.2% overall.
Sales for the fourth quarter of fiscal 2019 were $25.8 billion compared to sales of $26.5 billion in the fourth quarter of fiscal 2018. Fiscal 2018 included an extra week of operations compared to fiscal 2019. The extra week added about $1.7 billion of sales to the fourth quarter of fiscal 2018.
"We are now two years into our multi-year investment program and have more conviction than ever that our strategic initiatives are creating a value proposition that is unique to the marketplace and will extend our leadership position for years to come,” said CEO Craig Menear. “Through the second year of our One Home Depot investment program, we have grown sales by over $9 billion dollars – a level of growth unmatched in our market.”
Net earnings for the fourth quarter of fiscal 2019 were $2.5 billion, compared to net earnings of $2.3 billion in the fourth quarter of fiscal 2018.
For the full year, Home Depot reported comp-store sales of positive 3.8% in the U.S.
Sales for fiscal 2019 were $110.2 billion compared to sales of $108.2 billion in fiscal 2018.
# # #
The bottom line: For the full year, net income increased 1.1% to $11.2 billion, on sales of $110 billion. Those are billions with a “b.”
What the CEO said: "Fiscal 2019 was a record year for our business and one marked by significant progress as we invest to transform ourselves into The Home Depot of the future. We had a strong finish to the year as our fourth quarter results reflect strength in our core business, solid execution around our holiday events and the overall health of the consumer," said Craig Menear, chairman, CEO and president.
For more: Read about the latest supply chain investment here. And the full Q4 earnings release here.