Home Depot sales increased by 6.6 per cent

bn) for the third quarter of fiscal 2024, an increase of 6.6 per cent from the third quarter of fiscal 2023. Comparable sales decreased 1.3 per cent, and comparable sales in the U.S. decreased 1.2 per cent.

"While macroeconomic uncertainty remains, our third quarter performance exceeded our expectations," said Ted Decker, chair, president and CEO. "As weather normalized, we saw better engagement across seasonal goods and certain outdoor projects as well as incremental sales related to hurricane demand. I would like to thank all of our associates for their dedication in serving our customers and communities."

Adjusted fiscal guidance

The company also updated its fiscal 2024 guidance, which includes 53 weeks of operating results. Home Depot expects total sales to increase by approximately 4 per cent and a decline in comparable sales by approximately 2.5 per cent for the 52-week period compared to fiscal 2023.

At the end of the third quarter, the company operated a total of 2,345 retail stores and over 780 branches across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, ten Canadian provinces and Mexico.