by Comparable sales for the 2nd quarter increased 1% and comparable sales in the US increased 1.4%
ATLANTA — Home improvement retailer Home Depot reported a 4.9% increase in Q2 sales for its second fiscal quarter ended Aug. 3.
Net sales totaled $45.3 billion, up 4.9% from $43.2 billion the same period last year.
The company said that comparable sales for the second quarter of fiscal 2025 increased 1%, and comparable sales in the U.S. increased 1.4%. Foreign exchange rates negatively impacted total company comparable sales by approximately 40 basis points during the second quarter, the company added.
Net earnings for the second quarter totaled $4.6 billion, or $4.58 per share, compared with net earnings of $4.6 billion, or $4.60 per share, the same period last year.
Gross profit during the quarter totaled $15.1 billion, up 4.9% from $14.4 billion the same period last year, while operating income totaled $6.6 billion, up .3% from $6.5 billion last year. SG&A expenses were up 8.7% to $7.7 billion, from $7.1 billion.
“Our second-quarter results were in line with our expectations,” said Ted Decker, chair, president and chief executive officer. “The momentum that began in the back half of last year continued throughout the first half as customers engaged more broadly in smaller home improvement projects. Our teams are executing at a high level, and we continue to grow market share. I would like to thank our associates for their continued hard work and dedication.”
For the full first half, the company reported net sales of $85.1 billion, up 7% from $79.6 billion the same period last year. Comparable store sales rose .4%.
Net income totaled $8 billion, or $8.05 per share, down 2.2% from $8.2 billion, or $8.23 per share, last year, while gross profit totaled $28.6 billion, up 6.5% from $26.8 billion last year.
Operating income totaled $11.7 billion, up .6% from $11.6 billion during the first half of last fiscal year. SG&A expenses totaled $15.3 billion, up 10.7% from $13.8 billion last year.
Furniture is an increasingly important part of the product mix at Home Depot. Customers can order products online and have them delivered to their home.
In 2024, it ranked at No. 23 on Home News Now’s 125 Furniture & Bedding Retailers, with sales of $775 billion and 2,025 stores in the U.S.
