Delayed start to spring impacts Home Depot Q1 sales

The Home Depot had sales of $36.4 billion for the first quarter of fiscal 2024, a decrease of 2.3 percent compared to sales in the first quarter of fiscal 2023. Comparable sales for the first quarter decreased 2.8 percent, and comparable sales in the US decreased 3.2 percent. The company had net earnings of $3.6 billion compared with net earnings of $3.9 billion in the prior-year period. The decrease was impacted by a delayed start to spring and continued softness in certain larger discretionary projects, says Ted Decker, president and CEO. The company says nearly half of online orders were fulfilled through stores during the quarter and sales leveraging digital platforms increased 3.3 percent year over year. The HD Pro Ecosystem markets outperformed other large Pro markets.