Home Depot sales drop in the first quarter of 2024

(Source: Archive)

The Home Depot, the world's largest home improvement retailer, today reported sales of USD 36.4 bn (EUR 33.7 bn) for the first quarter of fiscal 2024 (ended 28 April 2024), a decrease of 2.3 per cent from the first quarter of fiscal 2023. Comparable sales decreased by 2.8 per cent, while comparable sales in the U.S. decreased by 3.2 per cent.

"The team executed at a high level in the quarter, and we continued to grow market share," said Ted Decker, chair, president and CEO. “And while the quarter was impacted by a delayed start to spring and continued softness in certain larger discretionary projects, we feel great about our store readiness, our product assortment in stores and online, and our associate engagement.“

At the end of the first quarter, the company operated a total of 2,337 retail stores in all 50 U.S. states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, ten Canadian provinces and Mexico. The company employs approximately 465,000 associates.

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