Home Depot Q4 Sales and Earnings Virtually Flat
February 23, 2023 from Floor Focus FloorDaily News
Atlanta, GA, February 23, 2023 – The Home Depot announced sales for Q4 2022 were $35.8 billion, a 0.3% increase from Q4 2021’s $35.7 million.
Comparable sales for Q4 2022 decreased 0.3%, and comparable sales in the U.S. decreased 0.3%.
Net earnings for Q4 2022 were $3.4 billion, a 0.3% increase over net earnings of $3.4 billion in the same period of fiscal 2021. Sales in the flooring department were negative for Q4. Pro and big ticket sales performed better than DIY. Big ticket (transactions greater than $1000 were up 3.8%. By month, same store sales where down 1.4% in November, up .7% in December and flat in January.
Sales for fiscal 2022 were $157.4 billion, an increase of 4.1%,from fiscal 2021’s $152.2 billion. Comparable sales for fiscal 2022 increased 3.1%, and comparable sales in the U.S. increased 2.9%.
Net earnings for fiscal 2022 were $17.1 billion, a 4.1% increase compared with net earnings of $16.4 billion in fiscal 2021.
“Fiscal 2022 was another record year for The Home Depot as our team continued to successfully execute in a challenging and dynamic environment,” said Ted Decker, chair, president and CEO.