ATLANTA - The Home Depot reported sales of $22.8 billion for the first quarter of fiscal 2016, a 9 percent increase from a year ago, with net earnings clocking in at $1.8 billion - up 19 percent, higher than expected. Sales to professionals saw double-digit gains, while millwork and lumber were among categories selling fast.
 
“We were pleased with our stronger than expected start to the year, driven by solid execution and broad-based growth across the store,” said Craig Menear, chairman, CEO and president. “This was made possible by our hard working associates and their continued dedication to our customers in a quarter marked by week-to-week demand spikes caused by weather variability.”

ARTICLE

How far does a Home Depot worker travel each day?

A Staten Island flooring supervisor clocked in his daily mileage. He walks about double the average American. 


As a result of the good news - driven by housing construction and remodeling -  The Home Depot raised its projects for 2016 sales, which it expects to rise 6.3 percent.  

At the end of the first quarter, the Company operated a total of 2,275 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico; it employs more than 385,000, trades on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.

 

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