In the second quarter of its 2021/2022 financial year (31 January), The Home Depot increased its turnover by 8.1% to US$41.118bn. Quarterly turnover thus exceeded the US$40bn mark for the first time in company history. The growth curve has flattened compared to previous months, however. In the first quarter, a turnover increase of 32.7% had been recorded; growth rates had also been in the double-digit percentage range in each of the preceding three quarters.
The increase in comparable sales turnover - which excludes changes in the sales area and the number of trading days - amounted to 4.5%. In the USA, adjusted turnover rose by 3.4%. No new openings of DIY stores occurred during the second quarter, nor were there any closures of locations. Five new stores have been added since last year. At the end of the quarter, The Home Depot was operating a total of 2,298 sales locations - 1,988 in the USA, 182 in Canada and 128 in Mexico.
After online business had almost doubled in the second quarter of 2020, in the current reporting period turnover generated online has remained largely stable. As a proportion of total turnover, online turnover accounted for 13.3%. In the Building Materials product segment - which consolidates the six product groups building materials, electrical/lighting, lumber, millwork and plumbing - turnover increased by 14.8% to US$14.411bn. In the Décor segment (appliances, décor/storage, flooring, kitchen/bath, paint) an increase of 13.6% to US$13.395bn was achieved. In contrast, a slight decline was suffered in the Hardlines segment (hardware, indoor garden, outdoor garden, tools), down to US$13.312bn. Concerning operating profit, The Home Depot achieved an increase of 9.4% to US$6.639bn. Pre-tax profit improved by 10.3% to US$6.318bn. Quarterly profit amounted to US$4.807bn.