Home improvement chain Home Depot reported its fourth-quarter results Tuesday and the company saw a sales jump of 7.5% year-over-year to $23.8 billion. Net earnings increased 2% to $1.77 billion, while GAAP earnings per share jumped 5.5% to $1.52 per share.
On the comp store sales side, the company saw a 7.5% improvement for the quarter, while for the US stores it was on the higher side at positive 7.2%.
Customer transactions increased 2% for the quarter, while actual average ticket sales jumped 5.5%.
The company announced earlier that it expected the impact of the Tax Cuts and Jobs Act of 2017 to result in an additional net tax expense of about $150 million. The provisional amount recorded in the quarter was $127 million.
FY 2018 Outlook
The home improvement retailing giant sees sales growth of about 6.5% including the 53rd week and comparable store sales growth of about 5% for the 52-week period. As for sales, Home Depot expects $1.6 billion in total sales for the 53 weeks in fiscal 2018.
Most Popular
BlackBerry (BB) likely to report weak Q4 earnings on March 31
BlackBerry Limited (NYSE: BB) is slated to report its fourth-quarter 2020 earnings results on Tuesday, March 31, after the market closes. The top line will be benefited by BlackBerry Cylance
Companies that are working on the coronavirus vaccine
The coronavirus pandemic continues to plague the world with over 500,000 cases reported globally and over 82,000 cases in the US alone. As the world grapples with the outbreak, several
Altimmune (ALT) reports FY19 results; announces vaccine candidate for COVID-19
Altimmune Inc. (NASDAQ: ALT) reported its earnings results for fiscal-year 2019. Revenues totaled $5.8 million compared to $10.3 million last year. The drop in revenues was caused by lower billings