USA – The Home Depot, the world’s largest home improvement retailer, reported second-quarter fiscal 2024 (2Q-2024) sales of USD 43.2 billion, up 0.6% from 2Q-2023.

This includes USD 1.3 billion from the recent acquisition of SRS Distribution Inc., representing about six weeks of sales. Comparable sales for 2Q-2024 fell 3.3%, with U.S. comparable sales down 3.6%.

Net earnings for 2Q-2024 were USD 4.6 billion, compared to USD 4.7 billion in the same period of fiscal 2023.

“The long-term fundamentals for home improvement remain strong,” said CEO Ted Decker. “Higher interest rates and macroeconomic uncertainty have affected consumer demand broadly, leading to weaker spending on home improvement. However, our team has navigated this environment effectively. appreciate our associates’ hard work and dedication.”

On August 15, Home Depot reported better-than-expected quarterly results, thanks to spending on minor home projects despite reduced expenditure on major remodeling.“We saw strength in categories for smaller projects, but continued pressure in big-ticket discretionary items,” said Ted Decker. “We remain optimistic about the medium- to long-term outlook and our ability to grow in this large, fragmented market.”