The Home Depot ended the fiscal year with a net profit of $2.8 billion, a 16.7% decline compared with the fourth quarter of 2022.
The retail chain’s net sales for the fourth quarter were $34.8 billion, down 2.9% from the same period last year.
"After three years of exceptional growth for our business, 2023 was a year of moderation," stated Ted Decker, chair, president, and CEO of Home Depot. "During fiscal 2023, we focused on several initiatives to strengthen the business while also staying true to our strategic investments of creating the best interconnected experience, growing our pro wallet share through our unique ecosystem of capabilities, and building new stores.”
The company’s full fourth quarter report can be found at this link.
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