The Home Depot posts FY19 net sales of $110 billion

The Household Depot, the world’s major house enhancement retailer, posted two.7 per cent drop in web revenue to $twenty five.8 billion in fourth quarter (This autumn) FY19 compared to $26.five billion in identical time period prior year. Although revenue for total FY19 finished on February two, 2019 rose one.7 per cent to $110.two billion compared to $108.two billion in identical time period prior year.

 

“Fiscal 2019 was a document year for our business and 1 marked by significant development as we spend to completely transform ourselves into The Household Depot of the upcoming. We had a strong finish to the year as our fourth quarter outcomes mirror energy in our main business, good execution about our holiday events and the all round well being of the purchaser,” Craig Menear, chairman, CEO and president, The Household Depot, mentioned in a push launch.

 

The corporation claimed that the fiscal 2018 integrated an additional 7 days of operations compared to fiscal 2019. The additional 7 days of operations added close to $one.7 billion of revenue to the fourth quarter of fiscal 2018. Net earnings in This autumn FY19 ended up $two.five billion compared to $two.three billion in identical quarter prior year. 

 

Net earnings in FY19 grew marginally to $11.two billion compared to $11.one billion in prior fiscal. Functioning money in This autumn FY19 grew .7 per cent to $three.4 billion (This autumn FY18: $three.three billion). 

 

The corporation in its advice for fiscal 2020 expects: total revenue growth of close to three.five per cent to 4. per cent comparable revenue growth of close to three.five per cent to 4. per cent 6 new stores and running margin of close to 14. per cent.

Fibre2Fashion News Desk (JL)

The Household Depot, the world’s major house enhancement retailer, posted two.7 per cent drop in web revenue to $twenty five.8 billion in fourth quarter (This autumn) FY19 compared to $26.five billion in identical time period prior year. Although revenue for total FY19 finished on February two, 2019 rose one.7 per cent to $110.two billion compared to $108.two billion in identical time period prior year.