The Home Depot, the world's largest home improvement retailer, has posted 32.7 per cent sales growth to $37.5 billion in its first quarter (Q1) FY21 ended on May 2, 2021, compared to the sales of $28.2 billion in the corresponding quarter previous fiscal. The company’s net earnings during the quarter rose to $4.1 billion (Q1 FY20: $2.2 billion).
The Home Depot, the world's largest home improvement retailer, has posted 32.7 per cent sales growth to $37.5 billion in its first quarter (Q1) FY21 ended on May 2, 2021, compared to the sales of $28.2 billion in the corresponding quarter previous fiscal. The company's net earnings during the quarter rose to $4.1 billion (Q1 FY20: $2.2 billion).#
“Fiscal 2021 is off to a strong start as we continue to build on the momentum from our strategic investments and effectively manage the unprecedented demand for home improvement projects,” Craig Menear, chairman and CEO at Home Depot, said in a press release.
The Home Depot, the world's largest home improvement retailer, has posted 32.7 per cent sales growth to $37.5 billion in its first quarter (Q1) FY21 ended on May 2, 2021, compared to the sales of $28.2 billion in the corresponding quarter previous fiscal. The company's net earnings during the quarter rose to $4.1 billion (Q1 FY20: $2.2 billion).#
Gross profit for Q1 FY21 grew to $12.7 billion ($9.6 billion), while selling, general and administrative expenses increased to $6.3 billion ($5.8 billion). The company’s operating income surged to $5.7 billion ($3.2 billion).
The Home Depot, the world's largest home improvement retailer, has posted 32.7 per cent sales growth to $37.5 billion in its first quarter (Q1) FY21 ended on May 2, 2021, compared to the sales of $28.2 billion in the corresponding quarter previous fiscal. The company's net earnings during the quarter rose to $4.1 billion (Q1 FY20: $2.2 billion).#
“I am proud of the resilience and strength our associates have continued to demonstrate, and I would like to thank them and our supplier partners for their hard work and dedication to our customers,” Menear concluded.
Fibre2Fashion News Desk (JL)
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