The Home Depot reported sales of $36.4 billion for the first quarter of fiscal 2024, a decrease of 2.3% from the first quarter of fiscal 2023. Comparable sales for the quarter decreased 2.8%, and comparable sales in the U.S. decreased 3.2%.
Home Depot's net earnings for the quarter of were $3.6 billion, or $3.63 per diluted share, compared with net earnings of $3.9 billion, or $3.82 per diluted share, in the same period in 2023.
"The team executed at a high level in the quarter, and we continued to grow market share," stated Ted Decker, chair, president and CEO. "And while the quarter was impacted by a delayed start to spring and continued softness in certain larger discretionary projects, we feel great about our store readiness, our product assortment in stores and online, and our associate engagement."
The company opened "approximately 12 new stores" in the quarter. At the end of the first quarter, the company operated a total of 2,337 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.
The company's full results for the first quarter of 2024 can be found here.
