Inside a $24 billion quarterly performance

In a quarter that saw $2 billion in net income, and $23.9 billion in net sales, Home Depot says two types of customers were particularly strong. One was the pro customer, the other was the online customer.

Online sales grew about 23%, said Ted Decker, executive VP of merchandising for the Atlanta-based home center giant.

While every merchandising department posted positive comps, the following departments were higher than the company average:

• Appliances (double-digit comps)

• Lumber (double-digit comps)

• Flooring (double-digit comps)

• Tools,

• Electrical,

• Plumbing

• Décor

• Kitchen

The 23% growth in online sales comes as the company says it works to balance the art and science of retail, and create “frictionless shopping across all channels. One example, an expedited online checkout process that cuts checkout time by an average of 20%. Another is the revamped mobile app that personalizes the user’s home page.

“We are pleased with the customer engagement and response to these enhancements, and we are seeing increased conversion rates,” Decker said.

Transactions over $900, were up 15.8%, he said, aided by sales of appliances, flooring and roofing. In general, the pro customer was once again a strong customer in the first quarter.

“In the first quarter, sales with our pro customers outpaced the company average, driven by both our high-spend and low-spend pros,” said Decker. “We saw strong comps in several lumber categories, wire, commercial and industrial lighting, and gypsum.”

In his comments to investors, Decker promoted a handful of products expected to make noise in the second quarter. A new PPG Timeless Exterior Stain and Sealant is the first PPG branded product offered at the retailer. A Ring Outdoor Cam with Motion Activated Floodlight is described as an easy to install, smart-home security product.

Both of those products are Home Depot exclusives, he said.

Also in the second quarter, the retailer is planning special events: Thrill of the Grill, Memorial Day, Father’s Day and Fourth of July top the list.