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.