The Home Depot increased its sales by 8.4% to US$30.463bn in the second quarter of fiscal 2018/2019 (end of January). In the reporting period, only one new branch was added in Mexico. Accordingly, like-for-like sales growth of +8% for the Group as a whole and +8.1% for the US market was at a similarly high level. Above-average growth was achieved in the product groups "Lumber", "Indoor Garden", "Outdoor Garden" and "Tools", among others.
The earnings situation also improved in the second quarter. Operating income increased by 9.8% to US$4.901bn; the corresponding margin was 16.1%. Pre-tax profit increased by 10.5% to US$4.655bn and net income increased to US$306bn.
In the first half of the current financial year, The Home Depot generated total sales of US$ 55.410bn, an increase of 6.6%. Like-for-like growth of 6.2% was achieved. Operating income increased by 6.0% to US$8.282bn, but the margin of 14.9% was slightly lower than in the previous year. Net income after the first six months was US$5.910bn.
The forecast for the year as a whole has meanwhile been revised upwards; instead of the previously targeted sales increase of 6.5% or a like-for-like increase of 6.5%, the forecast has been revised upwards.