The Home Depot, the world's largest home improvement retailer, has reported sales of $43.8 billion for the second quarter (Q2) of fiscal 2022, an increase of $2.7 billion, or 6.5 per cent from the second quarter of fiscal 2021. Comparable sales for the second quarter of fiscal 2022 increased 5.8 per cent, and comparable sales in the US increased 5.4 per cent.

Net earnings for the second quarter of fiscal 2022 were $5.2 billion, or $5.05 per diluted share, compared with net earnings of $4.8 billion, or $4.53 per diluted share, in the same period of fiscal 2021, representing an 11.5 per cent increase in diluted earnings per share, the company said in a press release.

"In the second quarter, we delivered the highest quarterly sales and earnings in our company's history," said Ted Decker, CEO and president. "Our performance reflects continued strength in demand for home improvement projects. Our team has done a fantastic job serving our customers, while continuing to navigate a challenging and dynamic environment. I would like to thank them and our many partners for their hard work and dedication to our customers."

The company has reaffirmed fiscal 2022 guidance of total sales growth and comparable sales growth of approximately 3.0 per cent, operating margin of approximately 15.4 per cent, net interest expense of approximately $1.6 billion and tax rate of approximately 24.6 per cent.

Fibre2Fashion News Desk (RR)

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