The Home Depot Increased Sales by 6.2% in Q2

Atlanta, GA, August 15, 2016-The Home Depot reported Q2 sales of $28.1 billion, a 6.2% increase over Q2 2016’s $26.5 billion. Net earnings for Q2 2017 were $2.7 billion, compared to $2.4 billion in the same period last year.

Comparable store sales for the second quarter of fiscal 2017 were positive 6.3%, and comp sales for U.S. stores were positive 6.6%. At the end of the second quarter, the company operated a total of 2,282 retail stores.

Lumber, electrical, tools and flooring had double-digit comps in the quarter, according to Ted Decker, EVP merchandising, lumber. “Flooring is a very big category, and there actually a lot of competitors,” said Decker in the investor conference call. “We see consumer demand very strong, and the consumer is responding to The Home Depot value proposition. So we have innovative product. We have exclusive product. We have new technology and exclusive launches at The Home Depot. And we've worked very hard on our in-store selling model. Ann and her team are just doing a great job communicating that value to the customer in both our hard and soft flooring, and they're both doing extremely well, as I called out, double-digit comps for the category.”

Craig Menear, CEO, reported, “Our dot-com business represented 6.4% of sales and grew approximately 23% in the quarter. Our digital team continues to invest on content, sight improvement and better mobile experiences to take the friction out of the interconnected experience online.”