The world’s two largest home improvement retailers published fourth quarter 2023 financial results.
The Home Depot, Atlanta, GA, reported fourth quarter, ended January 28, net quarterly sales of $34.8 billion, down 2.9% over the comparable period in 2023. Net earnings fell 21.4% from the same three months of fiscal year 2022 to $2.8 billion. Fiscal year net earnings were down 11.5% from the previous 12 months to $15.1 billion on net sales of $152.7 billion. See The Home Depot
The Lowe’s Companies, Mooresville, NC, announced fourth quarter, which ended February 2, net sales were $18.6 billion, 17.1% below the comparable timeframe in 2023. Net earnings were $1.0 billion compared to $957 million in the fourth quarter of 2022. Annual net earnings rose 6.6% from the previous fiscal year to $1.0 billion on net sales of $18.6 billion. See Lowe’s Companies
