USA: Amazing 2nd Quarter Results at The Home Depot.

“I’ve never seen a quarter like this” analysts have said about the results posted by The Home Depot. Like for like sales are up by 25% compared to last year. It is thought the one of the main reasons behind this incredible growth is that customers are stuck at home during the coronavirus pandemic and are enjoying a “summer at home” tackling home improvement projects they have previously put off.

Net Earnings at The Home Depot are $4.3 Billion compared to $3.5 Billion and earnings per share have increased by 26.8 per cent.

The Home Depot has also announced that it will open three new distribution centres in Georgia over the next 18 months to support the growing demand for flexible delivery and pick-up options for professional and DIY customers.

In 2017, the company announced a USD 1.2 bn (EUR 1.02 bn) investment to expand its distribution network with approximately 150 new supply chain facilities nationwide, with the goal of expanding the company’s existing same-day and next-day delivery options to 90 per cent of the US population.

The company is also working to make online shopping easier. How successful The Home Depot has been in this regard is shown by the increase of more than a billion dollars in revenue from online sales in the last six months.

In the first quarter of 2020, online sales increased by as much as 80 per cent, due in part to the effects of the Covid-19 pandemic. Interestingly, 60 per cent of customers collect their online purchases from the store.

 

USA: The Home Depot Announces Renewable Energy Goal

The Home Depot, the world’s largest home improvement retailer, today announced companywide sustainability progress in its 2020 Responsibility Report, which outlines the company’s 2019 progress on its corporate responsibility strategic pillars: focus on people, operate sustainably and strengthen communities. The report also introduces several new goals and provides an update on the company’s recent response to COVID-19 and social equality issues.

As part of its existing pledge to reduce carbon dioxide emissions by 50 percent by 2035, The Home Depot reduced its greenhouse gas emissions by 10 percent in 2019, driven primarily by energy reductions and supply chain efficiencies.

New goals include a commitment to produce and procure energy from 335 megawatts of renewable and alternative energy projects by 2025.

Read the full report here: The Home Depot 2020 Responsibility Report

U.S.: Home Depot’s sees 7% rise in turnover

Home Depot’s sales rose in the first quarter, but costs related to the pandemic, such as employee bonuses and reduced hours, ate into the retail giant’s earnings. Sales rose 7.1% to USD 28.26 bn, besting estimates of USD 27.54 bn, with same-store sales up 6.4%. Net earnings dropped by 10.7% to USD 2.25 bn, or USD 2.08 per share. Analysts had forecast earnings of USD 2.27 per share.

 

Source: www.hardlines.ca

U.S.: Home Depot profits exceed expectations

Home Depot has reported its Q2 net income was $3.48 bn, or $3.17 per share, compared with $3.51 bn ($3.05 a share) for the comparable period last year. Those numbers missed analyst expectations of $3.08 a share. Sales rose by 1.2% to $30.84 billion, compared to $30.46 bn a year ago but fell short of the expected $30.99 bn. Same-store sales increased by 3% overall and by 3.1% in the U.S., missing forecasts of 3.5% growth.

 

Read more at: www.hardlines.ca