Home Improvement Retailers Report Financial Results
The world’s two largest home improvement retailers reported growth in the fourth quarter.
The Home Depot, Atlanta, GA, reported fourth quarter fiscal 2016 sales of $22.2 billion, up 5.8% from 2015. Net earnings were $1.7 billion compared with net earnings of $1.5 billion in the fourth quarter of 2015. See The Home Depot
The Lowe’s Companies, Mooresville, NC, announced net earnings of $663 million for the fourth quarter ended February 3 compared to net earnings of $11 million in the same quarter of 2015. Net earnings for the year increased 4.3% to $3.1 billion. Sales grew 19.2% from the fourth quarter 2015 to $15.8 billion. Fiscal year 2016 sales increased 10.1% over the year-ago period to $65 billion. See Lowe's Companies