The Home Depot, the world's largest home improvement retailer, posted 2.7 per cent decline in net sales to $25.8 billion in fourth quarter (Q4) FY19 compared to $26.5 billion in same period prior year. While sales for full FY19 ended on February 2, 2019 rose 1.7 per cent to $110.2 billion compared to $108.2 billion in same period prior year.
The Home Depot, the world's largest home improvement retailer, posted 2.7 per cent decline in net sales to $25.8 billion in fourth quarter (Q4) FY19 compared to $26.5 billion in same period prior year. While sales for full FY19 ended on February 2, 2019 rose 1.7 per cent to $110.2 billion compared to $108.2 billion in same period prior year.#
"Fiscal 2019 was a record year for our business and one marked by significant progress as we invest to transform ourselves into The Home Depot of the future. We had a strong finish to the year as our fourth quarter results reflect strength in our core business, solid execution around our holiday events and the overall health of the consumer," Craig Menear, chairman, CEO and president, The Home Depot, said in a press release.
The Home Depot, the world's largest home improvement retailer, posted 2.7 per cent decline in net sales to $25.8 billion in fourth quarter (Q4) FY19 compared to $26.5 billion in same period prior year. While sales for full FY19 ended on February 2, 2019 rose 1.7 per cent to $110.2 billion compared to $108.2 billion in same period prior year.#
The company reported that the fiscal 2018 included an extra week of operations compared to fiscal 2019. The extra week of operations added approximately $1.7 billion of sales to the fourth quarter of fiscal 2018. Net earnings in Q4 FY19 were $2.5 billion compared to $2.3 billion in same quarter prior year.
The Home Depot, the world's largest home improvement retailer, posted 2.7 per cent decline in net sales to $25.8 billion in fourth quarter (Q4) FY19 compared to $26.5 billion in same period prior year. While sales for full FY19 ended on February 2, 2019 rose 1.7 per cent to $110.2 billion compared to $108.2 billion in same period prior year.#
Net earnings in FY19 grew marginally to $11.2 billion compared to $11.1 billion in prior fiscal. Operating income in Q4 FY19 grew 0.7 per cent to $3.4 billion (Q4 FY18: $3.3 billion).
The Home Depot, the world's largest home improvement retailer, posted 2.7 per cent decline in net sales to $25.8 billion in fourth quarter (Q4) FY19 compared to $26.5 billion in same period prior year. While sales for full FY19 ended on February 2, 2019 rose 1.7 per cent to $110.2 billion compared to $108.2 billion in same period prior year.#
The company in its guidance for fiscal 2020 expects: total sales growth of approximately 3.5 per cent to 4.0 per cent; comparable sales growth of approximately 3.5 per cent to 4.0 per cent; six new stores; and operating margin of approximately 14.0 per cent.
Fibre2Fashion News Desk (JL)
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