The Home Depot Announces Third Quarter Results

The Home Depot®, the world’s largest home improvement retailer, today reported sales of $25.0 billion for the third quarter of fiscal 2017, an 8.1 percent increase from the third quarter of fiscal 2016. Comparable store sales for the third quarter of fiscal 2017 were positive 7.9 percent, and comp sales for U.S. stores were positive 7.7 percent.

Net earnings for the third quarter of fiscal 2017 were $2.2 billion, or $1.84 per diluted share, compared with net earnings of $2.0 billion, or $1.60 per diluted share, in the same period of fiscal 2016. For the third quarter of fiscal 2017, diluted earnings per share increased 15.0 percent from the same period in the prior year.

“Though this quarter was marked by an unprecedented number of natural disasters, including multiple hurricanes, wildfires in the West, and earthquakes in Mexico, the underlying health of our core business remains solid,” said Craig Menear, chairman, CEO and president. “I am proud of our team and suppliers for their extraordinary efforts to support those in the path of the various natural disasters throughout the quarter. Our support of the impacted communities continues.”

Impact of Hurricanes in the Fiscal Third Quarter
The Company estimates that hurricane-related sales positively impacted comparable store sales growth by approximately $282 million in the fiscal third quarter. The gross margin on these hurricane-related sales was considerably less than the Company average. In the fiscal third quarter, the Company also incurred approximately $104 million of hurricane-related expense. As a result of the hurricanes, the Company’s operating profit was negatively impacted by approximately $51 million in the fiscal third quarter.

Updated Fiscal 2017 Guidance
Based on its year-to-date performance, underlying strength of the core business, and projected hurricane recovery sales, the Company lifted its fiscal 2017 sales growth guidance and now expects sales will be up approximately 6.3 percent and comp sales will be up approximately 6.5 percent. The Company also raised its diluted earnings-per-share growth guidance for the year and now expects diluted earnings-per-share growth of approximately 14.0 percent from fiscal 2016 to $7.36. The Company’s diluted earnings-per-share growth guidance includes the impact of $8 billion of share repurchases for fiscal 2017.
Details at:  http://ir.homedepot.com/news-releases/2017/11-14-2017-110039233

Related Posts

Nordstrom Reports Fourth Quarter 2022 Earnings, Announces Wind-Down of Canadian Business

Nordstrom, Inc. reported fourth quarter net earnings of $119 million, and earnings before interest and taxes of $187 million, or 4.5 percent of sales, for the quarter ended January 28, 2023. For the fiscal year ended January 28, 2023, net earnings were $245 million, with EBIT of $465 million, or 3.1 percent of sales. For the fourth quarter ended January 28, 2023, net sales decreased 4.1 percent versus the same period in fiscal 2021 and gross merchandise value decreased 4.2 percent.

Independence Lost — Taxpayer Funding and Information Access Takes a Dark Turn

What happens when a leading world government on the forefront of scientific discovery holds an election, and the newly elected officials and their retinue revoke access to scientific information and important data paid for and used by taxpayers, citizens, and the general public? And what happens when these new leaders then undercut funding that could be used to close gaps in scientific and public health data that clearly led to deaths and disease? We’re finding out. Lack of access to raw data from governmental sources curtails the independence of scientists to conduct research, formulate new hypotheses, and validate results, while preventing citizens from monitoring issues of civic and scientific interest and importance. Information is power, and those newly in power seem reluctant to share either. Click Read More below for more of the story.

Costco Wholesale Corporation Reports March Sales Results

Costco Wholesale Corporation reported net sales of $21.61 billion for the retail month of March, the five weeks ended April 3, 2022, an increase of 18.7 percent from $18.21 billion last year. For the thirty-one weeks ended April 3, 2022, the Company reported net sales of $130.00 billion, an increase of 16.7 percent from $111.37 billion during the similar period last year.
Back To Top
×Close search
Search