The Home Depot announced its Q417 performance was at 7.6% growth over Q416, posting a revenue of $23.9 billion. This outperformed analysts’ expectations by 0.8%. At the end of Q417 the home improvement retailer operated 2,284 stores versus 2,278 in Q416, an addition of 6 stores. Same store comparisons show a 7.5% growth. Analysts expected a 6% increase. US same stores grew 7.2%.
Home Depot’s same store growth is attributed to 5.5% increase in average ticket amounts and 1.9% increase in number of transactions compared to last year. The company’s online sales grew 21% over last year. For the 2017 retail year in total, Home Depot posted revenues of $100.9 billion.
This now opens up expectations for the 2018 retail year. Analysts are expecting revenues in 2018 to reach $107.8 billion, representing 6.8% growth. Home Depot proposes to open 3 new stores this year and set same store comp goals for this year at 5%. To download the infographic provided by Home Depot, click here.