Home Depot First Quarter Sales Rise

The Home Depot had sales of $38.9 billion for the first quarter of fiscal 2022, an increase of $1.4 billion or 3.8 per cent from the first quarter of fiscal 2021. Comparable sales for the quarter increased 2.2 per cent. Net earnings for the first quarter were $4.2 billion, compared with net earnings of $4.1 billion in the same period of fiscal 2021. Ted Decker, its CEO and president, says, "The solid performance in the quarter is even more impressive as we were comparing against last year's historic growth and faced a slower start to spring this year." It has raised its fiscal 2022 guidance and now expects total sales growth and comparable sales growth of approximately three per cent.