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Home Depot has announced its third-quarter 2018 financial results.
In total, the company reported sales of $26.3 billion, which represents a 5.1 percent increase from the same period in 2017. Comparable sales for the third quarter in the U.S. were up 5.4 percent, according to the company.
Home Depot reported net earnings of $2.9 billion in the third quarter of 2018, up from $2.2 billion in 2017.
“We are pleased with our third quarter results and the growth that we saw from both our professional and do-it-yourself customers. Our customers continue to respond to our expansive assortment and enhancements we are making to drive an interconnected shopping experience. We saw continued strength across the store, as well as healthy growth in our digital business,” says Craig Menear, chairman, CEO and president. “We believe this is a testament to the overall strength of demand in the home improvement market.”
In July, the company announced plans to overhaul its supply chain. It plans to spend $1.2 billion to add approximately 170 distribution centers in the U.S. in order to speed up home delivery services.
