Home Depot '21 sales up 14.4 percent
The Home Depot said its sales for fiscal 2021 were $151.2 billion, an increase of 14.4 percent from $132.1 billion in fiscal 2020.
Comparable sales for fiscal 2021 increased 11.4 percent, and comparable sales in the U.S. increased 10.7 percent.
Net earnings for fiscal 2021 were $16.4 billion, or $15.53 per diluted share, compared with net earnings of $12.9 billion, or $11.94 per diluted share in fiscal 2020.
Sales for the fourth quarter of fiscal 2021 were $35.7 billion, an increase of 10.7 percent from $32.3 billion in the fourth quarter of fiscal 2020. Comparable sales for the fourth quarter of fiscal 2021 increased 8.1 percent, and comparable sales in the U.S. increased 7.6 percent.
Net earnings for the quarter were $3.4 billion, or $3.21 per diluted share, compared with $2.9 billion, or $2.65 per diluted share, in the same period of fiscal 2020.
"Fiscal 2021 was another record year for The Home Depot. We achieved a milestone of over $150 billion in sales," said Craig Menear, chairman and CEO. "Our ability to grow the business by over $40 billion in the last two years is a testament to investments we have made in the business, our ability to execute with agility, and our associates' relentless focus on our customers. I would like to thank all of our associates, as well as our supplier partners, for their hard work and dedication to serving our customers, communities and each other."
Ted Decker, president and chief operating officer, said sales to professional customers outpaced sales to do-it-yourself consumers. "We saw continued strength in both our Pro and DIY customers. During the fourth quarter, Pro sales growth outpaced DIY growth. Sales growth for both our Pro and DIY customers accelerated in the fourth quarter relative to the third quarter and showed strong double-digit growth on a two-year basis for both customer groups."
He added that sales leveraging digital platforms grew approximately 6 percent for the fourth quarter and approximately 9 percent. for the year. "Over the past two years, sales from our digital platforms have grown over 100 percent," Decker said. "Our focus on delivering a frictionless, interconnected shopping experience is resonating with our customers as approximately 50 percent of our online orders were fulfilled through our stores in fiscal 2021."
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