Home Depot reported a profit of $7.96 billion in 2016, a 13.5 percent increase compared with $7.01 billion in 2015, according to the company’s filing with the SEC.
Sales for the year were $94.59 billion, a 6.85 percent increase from $88.52 billion in sales in 2015.
Profits were $1.74 billion in the fourth quarter of 2016, a 18.36 percent increase compared with the $1.47 billion reported in the fourth quarter of 2015.
Sales for the fourth quarter were $22.21 billion, 5.86 percent higher than sales of $20.98 billion in the fourth quarter of 2015. Comparable store sales in the fourth quarter of 2016 increased 5.8 percent globally and 6.3 percent in the United States.
“Our focus on providing localized and innovative product selection, improving the interconnected customer experience and driving productivity resulted in record sales and net earnings for 2016,” said Craig Menear, chairman, CEO and president, in a statement. “Our associates responded to a healthy housing market and strong customer demand, and I’d like to thank them for their execution, hard work and continued dedication to our customers.”
