Source: Healthcare Business —
But don’t tell that to Home Depot. The home improvement retail giant reported record profits and sales in the last quarter.
Home Depot (HD) He said Tuesday that total revenue rose 6.5% from a year ago, to $43.8 billion. The company reported net profit of $5.2 billion, or $5.05 per share. That far exceeded Wall Street expectations, as professional contractors and the do-it-yourself crowd kept spending.
The numbers were strong across the board. In-store sales have been open for at least a year, up 5.4% from the same quarter in 2021 in the US and 5.8% in all locations worldwide. The company also confirmed its full-year earnings and forecasts.
“Our performance reflects continued strength in demand for home improvement projects,” Home Depot CEO and President Ted Decker said in the earnings statement. Decker added that these were the highest quarterly earnings and sales numbers in the company’s history, despite a “challenging and dynamic environment.”
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