The world’s two largest home improvement retailers published financial results for the fourth quarter of fiscal year 2024 and projections for 2025.
The Home Depot, Atlanta, GA, reported that the fourth quarter ended February 2 with net quarterly sales of $39.7 billion, up 14.1% over the comparable period in 2023. Net earnings grew 7.0% from the same three months of fiscal year 2023 to $3.0 billion. FY24 net sales increased 4.5% to $159.5 billion, while net earnings shrunk 2.2% to $14.8 billion over 2023. Sales are expected to improve 2.8% in 2025. See The Home Depot
The Lowe’s Companies, Mooresville, NC, announced the fourth quarter, which ended January 31, net sales were $18.6 billion, 0.3% below the comparable timeframe in 2023. Net earnings were 10.3% higher at $1.1 billion compared to the fourth quarter of 2023. For fiscal year 2024, net sales declined 3.1% to $83.7 billion, and net earnings decreased 10.0% to $7.0 billion from last year. Sales in 2025 are projected to rise 1.2%. See Lowe’s Company
