The Home Depot Reports 5.1% Rise in Q3 Like-For-Like Sales

The Home Depot®, the world's largest home improvement retailer, today reported sales of $26.3 billion for the third quarter of fiscal 2018, a 5.1 percent increase from the third quarter of fiscal 2017. Comparable sales for the third quarter of fiscal 2018 were positive 4.8 percent, and comp sales in the U.S. were positive 5.4 percent.

Net earnings for the third quarter of fiscal 2018 were $2.9 billion, or $2.51 per diluted share, compared with net earnings of $2.2 billion, or $1.84 per diluted share, in the same period of fiscal 2017. For the third quarter of fiscal 2018, diluted earnings per share increased 36.4 percent from the same period in the prior year.

"We are pleased with our third quarter results and the growth that we saw from both our professional and do-it-yourself customers. Our customers continue to respond to our expansive assortment and enhancements we are making to drive an interconnected shopping experience. We saw continued strength across the store, as well as healthy growth in our digital business," said Craig Menear, chairman, CEO and president. "We believe this is a testament to the overall strength of demand in the home improvement market."

Updated Fiscal 2018 Guidance

Based on its year-to-date performance, the Company updated its fiscal 2018 guidance. The Company will have 53 weeks of operating results in fiscal 2018 and now expects:

• Sales growth of approximately 7.2 percent;
• Comp sales growth of approximately 5.5 percent for the comparable 52-week period;
• Operating margin of approximately 14.5 percent;
• Tax rate of approximately 24 percent;
• Fiscal 2018 share repurchases of approximately $8 billion;
• Diluted earnings-per-share growth of approximately 33.8 percent from fiscal 2017 to $9.75.

Source : Insight DIY Team and The Home Depot

Image : ThreeRivers11 / Shutterstock.com

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