USA - In the fiscal year concluding on January 28, 2024, Home Depot, the world's largest home improvement retail chain, experienced a 3.0 percent decrease in sales, reaching USD 152.66 billion.

President and CEO Ted Decker acknowledged this subdued performance, underscoring the company's dedication to the expansive home improvement market, valued at over USD 950 billion. Despite the decline, Home Depot remains committed to bolstering its market share in this sector.

During the fourth quarter, Home Depot also saw a decline in sales, experiencing a 2.9 percent drop to USD 34.786 billion compared to the prior year. Comparable sales decreased by 3.5 percent overall and by 4.0 percent in the USA during this period. For the full fiscal year, net earnings amounted to USD 15.1 billion, indicating a decrease from the previous fiscal year's earnings of USD 17.1 billion.

Reflecting on the year, Ted Decker characterized it as a period of moderation following years of exceptional growth. Throughout fiscal 2023, Home Depot focused on strengthening its business through strategic initiatives, such as improving the interconnected customer experience, expanding its professional customer base, and opening new stores. Despite the challenges, Decker expressed optimism regarding Home Depot's future prospects in the dynamic home improvement market and expressed gratitude to the company's associates for their unwavering dedication to serving customers and communities.