Home Depot Net Rises 72 Percent in Q4

ATLANTA-The fiscal year came to a happy end for The Home Depot, with net income jumping 72 percent to $587 million.

Net sales for the quarter, which ended Jan. 30, edged up 3.8 percent to $15.1 billion. However, Home Depot was able to trim operating expenses by 1.9 percent on a dollar basis and 161 basis points as a percentage of sales, to 27.8 percent. The company also improved gross margin by 145 basis points to 35.9 percent.

Net income for the whole fiscal year rose 25 percent to $3.3 billion. Net sales finished at $68 billion, up 2.8 percent.

Frank Blake, Home Depot's chairman and chief executive officer, attributed to strong overall performance to several initiatives. The company completed the rollout of its Rapid Deployment Centers as part of its distribution network, enjoyed improvement in customer-service ratings and made further progress in merchandising transformation, Blake said.

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

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 May digital issue

    HFN's DIGITAL EDITION

    May 2017


    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    ALSO IN THIS ISSUE:

    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money