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After reporting $130 billion in fiscal year 2020 sales, big-box home improvement chain Home Depot is reporting $37.5 billion in first-quarter 2021 sales.
The first-quarter sales total is an increase of roughly $9.2 billion, or 32.7 percent from the same period in 2020. Comparable store sales for the first quarter increased 31 percent, and comparable store sales in the U.S. grew by 29.9 percent, the company states.
From the fourth quarter of 2020 to the current quarter, total sales rose $5.2 billion.
Net earnings for Home Depot hit $4.1 billion in the first quarter of the year, up 86 percent from the same period in 2020.
“Fiscal 2021 is off to a strong start as we continue to build on the momentum from our strategic investments and effectively manage the unprecedented demand for home improvement projects,” says Craig Menear, chairman and CEO.
The company also reported its digital sales grew about 27 percent compared to the first quarter of 2020. It also saw double-digit sales growth from pro and DIY customers alike.
At the end of the first quarter, Home Depot operates a total of 2,298 stores and employs roughly 500,000 people. In October, the company named Ted Decker president and chief operating officer.
