Home Depot increases sales by 5.7 per cent

Home Depot reported sales of USD 26.381 bn (EUR 23.621 bn) for the first quarter of fiscal 2019 (ended: 5 May), a 5.7 per cent increase from the first quarter of fiscal 2018. Comparable sales for the first quarter of fiscal 2019 were positive 2.5 per cent, and comparable sales in the US were positive 3.0 per cent. In the first quarter, the difference between the company's sales growth and comparable sales performance reflects a shift in the calendar base due to 53 weeks of sales in fiscal 2018, according to the company. "We were pleased with the underlying performance of the core business despite unfavourable weather in February and significant deflation in lumber prices compared to a year ago," says Craig Menear, chairman, CEO and president of the world's largest home improvement retailer.