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The Home Depot reports 4.4% increase in sales

Published: 15 May 2018 - Kiran Grewal

The Home Depot, the world's largest home improvement retailer, has today reported sales of $24.9 billion for the first quarter of fiscal 2018, a 4.4% increase from the first quarter of fiscal 2017. Comparable sales for the first quarter of fiscal 2018 saw an increase of 4.2%, and comp sales in the U.S. has risen by 3.9%.

Net earnings for the first quarter of fiscal 2018 were $2.4 billion, or $2.08 per diluted share, compared with net earnings of $2.0 billion, or $1.67 per diluted share, in the same period of fiscal 2017. For the first quarter of fiscal 2018, diluted earnings per share increased 24.6% from the same period in the prior year.

 

"We are pleased by the strength of our business despite a slow start to the spring selling season," said Craig Menear, chairman, CEO and president. "Outside of our seasonal business, we had solid results in all markets and categories and are seeing strong momentum in all lines of business during these first few weeks of May. These trends, as well as a favorable housing and macroeconomic backdrop, give us confidence to reaffirm our sales and earnings guidance for fiscal 2018. I would like to thank our associates for their hard work and continued dedication to our customers."

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