Home Improvement Retailers Report Financial Results
The world’s two largest home improvement retailers reported growth in the fourth quarter and fiscal year 2017.
The Home Depot, Atlanta, GA, reported fourth quarter net sales, ending January 28, of $23.9 billion, up 7.5% from the same period in 2016. Net earnings were $1.8 billion, up 2% from the fourth quarter of 2016. Fiscal year 2017 sales rose 6.7% from the prior year to $100.9 billion. Net earnings for the year rose 8.5% from 2016 to $8.6 billion. See The Home Depot
The Lowe’s Companies, Mooresville, NC, announced fourth quarter net sales, ending February 2, of $15.5 billion, down 1.8% compared to the same quarter in 2016. Fourth quarter net earnings fell 16.4% from the same period a year ago to $554 million. Net sales for fiscal year 2017 were $68.6 billion, up 5.5% from 2016. Fiscal year 2017 net earnings rose 11.5% over 2016 to $3.4 billion. See Lowe's Companies