USA  The Home Depot, the world’s largest home improvement retailer, reported 3Q-2024 (3Q-2024) sales of USD 40.2 billion, a 6.6% increase from USD 37.71 billion in 3Q-2023.

However, comparable-store sales declined 1.8%, marking the eighth consecutive quarter of negative comps.

“Despite ongoing macroeconomic uncertainty, our third-quarter performance exceeded expectations,” said Ted Decker, chair, president, and CEO. “As weather conditions normalized, we saw stronger demand for seasonal products and outdoor projects, along with incremental sales driven by hurricane recovery.”

Net earnings for the quarter were USD 3.6 billion, down from USD 3.8 billion last year.Big-ticket transactions (sales of $1,000 or more) fell 6.8%, but sales via digital platforms increased 4%, according to Billy Bastek, EVP of Merchandising. At the close of Q3, Home Depot operated 2,345 retail stores and over 780 SRS Distribution branches, acquired in June 2024.

Decker added: “Our focus with SRS is supporting growth through organic expansion and acquisitions, while exploring cross-selling opportunities.”

Home Depot raised its full-year outlook, partly due to hurricane recovery sales. For the full year, Home Depot expects 4% sales growth and a 2.5% decline in comparable sales. The previous forecast was 2.5%-3.5% sales growth and a 3%-4% decline in comps.