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Home Depot Reports Historic Quarterly Sales

The Home Depot reported Tuesday quarterly sales of $28.1 billion for the second quarter of 2017, which is a 6.2 percent increase over the same period last year.

“We were pleased with our results this quarter as our customers rewarded us with the highest quarterly sales in company history,” says Home Depot chairman, CEO and president Craig Menear. “We also achieved the highest quarterly net earnings in company history. These results were made possible by our hardworking associates and the outstanding values brought forth by our supplier partners.”

In addition to overall sales increases, Home Depot saw comparable store sales increases of 6.3 percent.

The Atlanta-based home improvement retailer reported average ticket sales of $63.05 and $464.38 in sales per square foot during the quarter.

As a result of these sales increases, the company adjusted its guidance for the fiscal year to 5.3 percent sales growth, up from 4.6 percent, and 5.5 percent growth in comparable store sales, up from 4.6 percent.

In addition to strong sales in the second quarter, Home Depot purchased a power equipment and maintenance rental service for $265 million, which the company says will help it to continue focusing on its pro customer base.

Home Depot has consistently reported strong sales in recent years, which the retailer has previously credited to the housing market.

In its 2016 annual report, the company reported 2,281 retail stores in North America.

About Melanie Moul

Melanie is the communications and content manager for the North American Hardware and Paint Association. She joined the NHPA team in 2016 as an editor for Hardware Retailing and now helps lead the communications team to deliver relevant, timely content to the industry.

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