U.S. Home Depot announces Second Quarter Results
Home Depot®, the world’s largest home improvement retailer, today reported sales of USD26.5 billion for the second quarter of fiscal 2016, a 6.6 % increase from the second quarter of fiscal 2015. Comparable store sales for the second quarter of fiscal 2016 were positive 4.7 %, and comparable sales for U.S. stores were positive 5.4 %
Net earnings for the second quarter of fiscal 2016 were USD2.4 billion, or USD1.97 per diluted share, compared with net earnings of USD2.2 billion, or USD1.73 per diluted share, in the same period of fiscal 2015. For the second quarter of fiscal 2016, diluted earnings per share increased 13.9 percent from the same period in the prior year.
“We had a solid quarter, achieving the highest quarterly sales and net earnings results in company history as housing continues to be a tailwind for our business,” said Craig Menear, chairman, CEO and president. “This was made possible by our hard working associates in their continued dedication to our customers.”
Updated Fiscal 2016 Guidance
The Company reaffirmed its fiscal 2016 sales guidance and expects sales will be up approximately 6.3 % and comp sales will be up approximately 4.9 %. The Company raised its diluted earnings-per-share guidance for the year and now expects diluted earnings per share to grow approximately 15.6 % from fiscal 2015 to USD 6.31.
At the end of the second quarter, the Company operated a total of 2275 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs more than 385000 associates. The Home Depot’s stock is traded on the New York Stock Exchange and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.