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International home improvement chain Home Depot has announced its financial results for the fourth quarter of 2019 and the entire fiscal year.
In total, the company reports $25.8 billion in sales this quarter, a 2.6 percent drop from the same period in 2018, though 2018 included an extra week of fiscal operation.
Home Depot posted net earnings of $2.5 billion, compared to earnings of $2.3 billion in the fourth quarter of 2018.
Notably, Home Depot’s online sales grew 20.8 percent in the final quarter of 2019, and more than half of those purchases were picked up in Home Depot locations. The company also achieved record sales during Black Friday.
The big-box chain also released insight into how it fared throughout all of 2019. Comparable sales grew 3.5 percent compared to 2018. Sales for fiscal year 2019 amounted to $110.2 billion, a 1.8 percent increase over fiscal year 2018.
Home Depot’s net earnings in 2019 were $11.2 billion. Comparable average ticket sales grew 4.4 percent over 2018.
“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,” says Craig Menear, chairman, CEO and president of Home Depot.
Earlier this year, Home Depot unveiled its first flatbed distribution center, designed to offer same-day or next-day delivery to more than 90 percent of the U.S.
