Home Depot Sales Increase by 23.4%, Earnings by 24.5% YOY in Q2

Atlanta, GA, August 18, 2020-The Home Depot reported sales of $38.1 billion for Q2 2020, a 23.4% increase from Q2 2019’s $30.8 billion.

Comparable sales for Q2 2020 were positive 23.4%, and comparable sales in the U.S. were positive 25.0%.

Net earnings for Q2 2020 were $4.3 billion, compared with net earnings of $3.5 billion in Q2 2019, an increase of 24.5%.

Says Bloomsberg, “Over the course of their first quarters, which run February to April, foot traffic at Home Depot rose 10% from a year ago, according to data from SafeGraph analyzed by Bloomberg. Lowe’s saw an even bigger spike at 21%. And this came when overall visits to retailers and spending in the U.S. collapsed.”

"The investments we have made across the business have significantly increased our agility, allowing us to respond quickly to changes while continuing to promote a safe operating environment. This enhanced our team's ability to work cross-functionally to better serve our customers and deliver record-breaking sales in the quarter," said Craig Menear, chairman, CEO and president.