Home Improvement Retailers Report Quarterly Financial Results
The world’s two largest home improvement retailers published fourth quarter results.
The Home Depot, Atlanta, GA, reported fourth quarter fiscal 2018 sales of $26.5 billion, up 10.9% from 2017. Net earnings for the quarter were $2.3 billion compared with $1.8 billion in 2017. Annual net sales grew 7.2% from 2017 to $108 billion. Net earnings for 2018 jumped 28.9% to $11.1 billion over the previous year. See The Home Depot
The Lowe’s Companies, Mooresville, NC, announced a net loss of $824 million for the fourth quarter ended February 27 compared to net earnings of $554 million in the same quarter of 2017. Net earnings for the year decreased 39.3% to $2.3 billion over fiscal year 2017. Sales grew 0.7% from the fourth quarter 2017 to $15.6 billion. 2018 sales increased 3.8% over the year-ago period to $71.3 billion. See Lowe's Companies