Modest Q1 gains propel HD to another record
CEO Decker describes a ‘strong start’ amid single-digit gains.
The Home Depot reported a record first quarter, built on top of a 1.7% gain in U.S. comp store sales, and a 2.1 percent gain in net earnings.
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Total sales for the world’s largest home improvement retailer for the quarter ended May 1 reached $38,908 million, up 3.8% from $37,500 million in the same quarter last year.
While the domestic comps figure for the first quarter is dramatically below the 29.9 percent recorded in the first quarter of 2021, CEO Ted Decker pointed to a “strong start” to the year and a new record: highest first-quarter sales in the history of the company.