The Home Depot Q2 FY20: sales $38 bn; net earnings $4.3 bn

The Home Depot, the world's largest home improvement retailer, reported 23.4 per cent sales growth to $38.1 billion in its second quarter (Q2) fiscal 2020 ended on August 2, 2020 compared to the sales of $30.8 billion in the same period previous fisca. Company’s net earnings for the quarter jumped to $4.3 million (Q2 FY19: $3.4 million).

 

The Home Depot, the world's largest home improvement retailer, reported 23.4 per cent sales growth to $38.1 billion in its second quarter (Q2) fiscal 2020 ended on August 2, 2020 compared to the sales of $30.8 billion in the same period previous fisca. Company's net earnings for the quarter jumped to $4.3 million (Q2 FY19: $3.4 million). #

“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,” Craig Menear, chairman, CEO and president, said in a press release.

 

The Home Depot, the world's largest home improvement retailer, reported 23.4 per cent sales growth to $38.1 billion in its second quarter (Q2) fiscal 2020 ended on August 2, 2020 compared to the sales of $30.8 billion in the same period previous fisca. Company's net earnings for the quarter jumped to $4.3 million (Q2 FY19: $3.4 million). #

Gross profit for the quarter were $12.9 billion ($10.4 billion). Selling, general and administrative expenses were up 26.0 per cent to $6.3 billion ($5.0 billion). Company’s operating income during second quarter rose 23.9 per cent to $6.0 billion ($4.8 billion). 

 

The Home Depot, the world's largest home improvement retailer, reported 23.4 per cent sales growth to $38.1 billion in its second quarter (Q2) fiscal 2020 ended on August 2, 2020 compared to the sales of $30.8 billion in the same period previous fisca. Company's net earnings for the quarter jumped to $4.3 million (Q2 FY19: $3.4 million). #

“We remain focused on continuing the momentum of our One Home Depot investment strategy that we believe will position us for continued growth over the long-term, while at the same time maintaining flexibility to navigate the demands of the current environment. Through it all, we will continue to lead with our values by doing the right thing and taking care of our people,” Menear said.