Home Depot increases sales by 6.6 per cent

The Home Depot, the world's largest home improvement retailer, yesterday reported sales of $26.5 billion for the second quarter of fiscal 2016, a 6.6 per cent increase from the second quarter of fiscal 2015. Comparable store sales for the second quarter of fiscal 2016 were up by 4.7 per cent, and comparable sales for U.S. stores up by 5.4 per cent.
Net earnings for the second quarter of fiscal 2016 were $2.4 billion, or $1.97 per diluted share, compared with net earnings of $2.2 billion, or $1.73 per diluted share, in the same period of fiscal 2015. For the second quarter of fiscal 2016, diluted earnings per share increased by 13.9 per cent from the same period in the prior year.
"We had a solid quarter, achieving the highest quarterly sales and net earnings results in company history as housing continues to be a tailwind for our business," said Craig Menear, chairman, CEO and president. "This was made possible by our hard-working associates in their continued dedication to our customers."
At the end of the second quarter, the company operated a total of 2 275 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.