USA - The Home Depot, the world's largest home improvement retailer, reported third-quarter fiscal 2023 (3Q-2023) sales of USD 37.7 billion.

This reflects a 3.0% decrease from the same period in fiscal 2022. Comparable sales for the quarter also saw a decline of 3.1%, with a 3.5% decrease in comparable sales within the U.S.

Net earnings (profit) for the 3Q-2023 amounted to USD 3.8 billion.  In comparison, net earnings for the 3Q-2022 were USD 4.3 billion.

Ted Decker, the CEO, noted that the company's quarterly performance met expectations. He highlighted continued customer engagement in smaller projects and challenges in certain high-value, discretionary categories. Decker expressed excitement about strategic initiatives, emphasizing a commitment to invest in the business for an improved interconnected shopping experience, increased engagement with professional customers, and expansion of store presence. He acknowledged the outstanding efforts of associates in delivering value and service to customers.

The company also adjusted its fiscal 2023 guidance.  Sales and comparable sales are expected to decline between 3% and 4% compared to fiscal 2022.