Home Improvement Retailers Report Strong Quarter
The world’s two largest home improvement retailers recently published fourth quarter 2020 results.
The Home Depot, Atlanta, GA, reported fourth quarter fiscal 2020 net sales of $32.3 billion, up 25.1% from 2019. Quarterly net earnings rose 16.0% from 2019 to $2.9 billion. Annual net sales grew 19.9% in 2020 to $132.1 billion. Net earnings for the year rose 14.4% to $12.9 billion over 2019. See The Home Depot
The Lowe’s Companies, Mooresville, NC, announced net sales for the fiscal year, ending January 29, increased 24.3% from 2019 to $89.6 billion. Fourth quarter net earnings of $978 million rose 92% compared to the same period in 2019. Net earnings for the year increased to $5.8 billion compared to $4.3 billion in fiscal year 2019. See Lowe’s