1. News
February 22, 2022

The Home Depot registers 14.4% increase in sales for FY21

The company expects its FY22 diluted earnings per share (EPS) to increase in the low single digits.

US-based home improvement retailer The Home Depot has reported a 14.4% full-year sales increase of $19.0bn to $151.2bn for the fiscal year 2021 (FY21) compared with a year earlier.

The company’s comparable sales for the year grew by 11.4%, while its comparable sales in the US increased by 10.7%.

The Home Depot’s net earnings for the year were $16.4bn, up from $12.9bn in FY20.

The retailer’s earnings per share (EPS) for the year grew by 30.1% to $15.53 against an EPS of $11.94 in the previous year.

The Home Depot chairman and CEO Craig Menear said: “FY21 was another record year for The Home Depot. We achieved a milestone of more than $150bn in sales.

“Our ability to grow the business by more than $40bn in the last two years is a testament to investments we have made in the business, our ability to execute with agility and our associates’ relentless focus on our customers.

“I would like to thank all of our associates, as well as our supplier partners, for their hard work and dedication to serving our customers, communities and each other.”

During the fourth quarter (Q4) of the year, The Home Depot’s sales were $35.7bn, increasing by 10.7% from the same period of the prior year.

The company’s comparable sales for the quarter grew by 8.1% and its comparable sales in the US also increased by 7.6% from a year earlier.

Its Q4 net earnings were $3.4bn compared with $2.9bn in 2020, while its EPS was $3.21 against $2.65 in the same period of FY20.

For FY22, The Home Depot expects its sales and comparable sales to grow slightly and its EPS to increase in the low-single digit range.

The company ended the year with a total of 2,317 retail stores and around 500,000 employees.