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Home Depot

Home Depot Reports Strong Quarterly Sales

The Home Depot hit record-high sales and net earnings in the second quarter of 2016.

The big box’s total second-quarter sales were $25.5 billion, a 6.6 percent increase from the second quarter of 2015, the company reported Aug. 16. Comparable sales for U.S. stores were up 5.4 percent.

“We had a solid quarter, achieving the highest quarterly sales and net earnings results in company history as housing continues to be a tailwind for our business,” says Craig Menear, chairman, CEO and president of Home Depot. “This was made possible by our hard working associates in their continued dedication to our customers.”

Home Depot credits much of its recent success to the housing industry.

The company expects 6.3 percent sales growth for the year, with comparable sales of 4.9 percent for fiscal 2016.

At the end of the second quarter, Home Depot operated 2,275 retailer stores in the U.S., the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.

To read about Home Depot’s first quarter, click here.

About Hilary Welter

As marketing and research coordinator, it’s Hilary’s duty to keep retailers informed about NRHA products and services and to help coordinate industry research projects. Additionally, Hilary is the voice behind NRHA’s and Hardware Retailing’s social media accounts. She appreciates a good book, spicy food, well-made horror films, craft beer and exploring new places near and far.

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