Home Depot Net Jumps 32 Percent in Fourth Quarter

ATLANTA-The Home Depot brought its fiscal year to an end with a strong bottom-line performance in the fourth quarter, ending on Jan. 29.

Net income for the quarter climbed 32 percent to $774 million, on a net sales gain of 5.9 percent to $16 billion. For the fiscal year, net income rose 16 percent to $3.9 billion as net sales rose 3.5 percent to $70.4 billion. Same-store sales for the quarter were up 5.7 percent, and increased 3.4 percent for the year.

Selling, general and administrative expenses for the quarter were up 1.8 percent in dollars, but dropped 96 basis points as a percentage of sales to 24.2 percent. Gross margin increased 29 basis points to 35 percent.

Frank Blake, Home Depot's chairman and CEO, attributed the strong end of the year to favorable weather, which delivered results that exceeded the company's expectations. For the new fiscal year, the company said it expected total sales growth of 4 percent and a low single-digit increase in same-store sales.

 

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.