Home Improvement Retailers Post Higher Sales

The world’s two largest home improvement retailers published fourth quarter 2022 financial results.

The Home Depot, Atlanta, GA, reported Q4 2022 net sales of $35.8 billion, up 0.3% over the comparable period in 2021. Net quarterly earnings rose 2.8% from the same three months of 2021 to $3.4 billion. Net sales in 2022 increased 4.1% compared to 2021 at $157.4 billion, and net earnings were $17.1 billion, growing 4.1% over the prior year. See The Home Depot

The Lowe’s Companies, Mooresville, NC, announced fourth quarter net sales were 5.2% higher than the comparable timeframe in 2021 at $22.4 billion, with Q4 2022 having 14 weeks compared to 13 weeks of sales. Net earnings decreased 20.6% from the fourth quarter in 2022 to $957 million. Annual net sales inched upward 0.84% over 2021 while net earnings fell 23.75% in 2022. See Lowe’s Companies

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