News | First quarter

Back

Home Depot’s sales soar by 7 per cent

Home Depot is the world's largest home improvement retailer.

Home Depot is the world's largest home improvement retailer.

The US-based DIY store chain Home Depot reports sales of USD 28.260 bn for the first quarter (ended 3 May 2020) of fiscal 2020, a 7.1 per cent increase from the first quarter of fiscal 2019. Comparable sales for the first quarter were up 6.4 per cent, and comparable sales in the U.S. were up 7.5 per cent, the world's largest home improvement retailer states.

Reacting to the Covid-19 pandemic, the company says it took several actions to prioritise safety and enhance associate benefits. To promote a safe environment for associates and customers, it implemented a number of operational changes in mid-March, including closing stores earlier to allow more time for sanitation and replenishing of essential products, limiting customer traffic in stores, and cancelling traffic-driving events such as Spring Black Friday.

While sales trends were strong at the end of the first quarter and into the first two weeks of the second quarter, as a result of the uncertainty related to the duration of Covid-19 and its impact on the broader economy, the company is suspending its previously communicated fiscal 2020 guidance.

|20 May 2020 | 13:38


SEND
 PRINT 

Post a comment

* Please complete the areas marked in red correctly and in full!.



(will not be published)

* obligatory fields


Latest news

Woodie’s DIY grows like-for-like by 17 per cent in 2020

The Irish DIY store chain Woodie's DIY has completed the year 2020 with a plus in like-for-like sales of 17.2 per cent. In November and December View news...

Kingfisher continues to grow in double-digit figures in November and December

The British Kingfisher group has reported continued double-digit growth rates. However there are negative outliers in several countries due to the View news...

French DIY industry works on its supply chain

The Covid-19 pandemic has revealed significant weaknesses within the logistics of the French home improvement industry. After a survey among View news...

Snowstorm forces several DIY stores in Spain to close

Due to snowstorm Filomena, which has brought snow and cold weather to major parts of Spain, several DIY stores have also had to close, in particular View news...