Hardware Retailing The Industry's Source for Insights and Information
Home Depot, the world’s largest big-box home improvement company, has announced its third-quarter 2019 financial results. Overall, the company has seen third-quarter fiscal 2019 sales of $27.2 billion, a 3.5 percent increase over the same period in 2018.
That sales growth translates to a $921 million increase compared to third-quarter 2018 sales. Comparable sales for the quarter were positive 3.6 percent, and comparable sales in the U.S. were positive 3.8 percent.
Home Depot reports overall net earnings for the quarter of $2.8 billion, a 3.4 percent decrease from the same period in 2018.
“Our third-quarter results reflected broad-based growth across our business, yet sales were below our expectations driven by the timing of certain benefits associated with our One Home Depot strategic investments,” says Home Depot president and CEO Craig Menear in the release.
Menear says the company is on track with these investments and has seen positive results, but some of the benefits initially projected for 2019 may take longer to realize.
Financial magazine The Motley Fool describes One Home Depot as the company’s “efforts to integrate online and physical sales.”
As of the third-quarter of 2019, Home Depot operates a total of 2,290 retail stores in all 50 U.S. states and Puerto Rico, the U.S. Virgin Islands and Guam. The company also has brick-and-mortar presences in Canada and Mexico.
Put in Context
Read Hardware Retailing‘s Home Depot 360 report from earlier this year for additional insights into the company. For more information on how Home Depot and other home improvement leaders fared in fiscal year 2018, be sure you’re subscribed to receive the December 2019 issue of Hardware Retailing. That issue includes the 2019 Market Measure, a complete financial overview of the home improvement industry.
