Home Depot sales up 5.8 percent
The Home Depot reported sales of $22.2 billion for the fourth quarter of fiscal 2016, a 5.8 percent increase from the fourth quarter of fiscal 2015.
Comparable store sales for the quarter were up 5.8 percent, and comp sales for U.S. stores were up 6.3 percent.
Net earnings for the quarter were $1.7 billion, or $1.44 per diluted share, compared with $1.5 billion, or $1.17 per diluted share, in the same period of fiscal 2015. For the fourth quarter of fiscal 2016, diluted earnings per share increased 23.1 percent from the same period in the prior year.
Sales for fiscal 2016 were $94.6 billion, an increase of 6.9 percent from fiscal 2015. Total company comparable store sales for fiscal 2016 increased 5.6 percent, and comp sales for U.S. stores were up 6.2 percent for the year.
Earnings per diluted share in fiscal 2016 were $6.45, compared to $5.46 per diluted share in fiscal 2015, an increase of 18.1 percent.
"Our focus on providing localized and innovative product selection, improving the interconnected customer experience, and driving productivity resulted in record sales and net earnings for 2016," said Craig Menear, chairman, CEO and president. "Our associates responded to a healthy housing market and strong customer demand, and I'd like to thank them for their execution, hard work and continued dedication to our customers."
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
