Home Depot Reports Record Sales and Earnings
Strong Demand for Home Improvement Drives Growth
For Immediate Release
**WEB ATLANTA May 14 2024 --** The Home Depot, the world's largest home improvement retailer, today reported record sales and earnings for the first quarter of 2024. The company attributed the strong results to continued demand for home improvement projects, as homeowners continue to invest in their properties.For the quarter, Home Depot reported sales of $36.4 billion, an increase of 7.4% from the same period last year. The company also reported net income of $3.3 billion, a 12.5% increase from the prior year.
"We are pleased to report another quarter of strong financial results, driven by continued demand for home improvement products and services," said Ted Decker, CEO of Home Depot. "Our customers are continuing to invest in their homes, and we are well-positioned to meet their needs."
Home Depot has been a beneficiary of the strong housing market in recent years, as homeowners have been spending more money on renovations and upgrades. The company has also benefited from its focus on providing a wide range of products and services, as well as its convenient locations.
Looking ahead, Home Depot is optimistic about the future. The company expects continued growth in the home improvement market, and is investing in new products and services to meet the needs of its customers.
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