Home Improvement Retailers Report Strong Growth
The world's two largest home improvement retailers recently reported quarterly financial results.
The Home Depot, Atlanta, GA, reported third quarter sales of $23.2 billion, up 6.1% from the comparable period in 2015. Quarterly net earnings were $2.0 billion compared with net earnings of $1.7 billion in the same period of fiscal 2015. Year-to-date net sales were $72.4 billion, rising from the year ago period by 7.2%. For the nine months, net earnings were $6.2 billion over $5.5 billion in the same period in 2015. See The Home Depot
The Lowe’s Companies, Mooresville, NC, announced net sales for the quarter ending October 28 of $15.7 billion compared to $14.4 billion in the year prior. Quarterly net earnings were $379 million down from $736 million in 2015. Net sales for the first nine months were $49.2 billion, up from $45.8 billion in 2015. Year-to-date net earnings were $2.4 billion compared to 2015 net earnings of $2.5 billion. See Lowe’s Companies