Home Depot sales to fall by 3.0 per cent in 2023

Home Depot, the world's largest DIY chain, recorded a 3.0 percent decline in sales in the past 2023/2024 financial year (ending 28 January 2024). The US DIY giant's net sales totalled USD 152.669 billion (EUR 141.352 billion). Like-for-like sales fell by 3.2 per cent, in the USA by 3.5 per cent.

"After three years of exceptional growth for our business, 2023 was a year of moderation," commented President and CEO Ted Decker on the developement, but made it clear that he sees strong growth in the future for the home improvement market, which is estimated at more than USD 950 billion (over EUR 879 billion). Home Depot will increase its market share in this fragmented market, Decker announced.

However, Home Depot also closed the fourth quarter with declining sales. Sales fell by 2.9 per cent to USD 34.786 billion (EUR 32.20 billion) compared to the same period last year. On a like-for-like basis, the decline was 3.5 per cent overall, and 4.0 per cent in the USA.