Home Depot Inc. saw strong year-over-year sales growth for the November-January quarter and increased its dividend, but the company’s chief financial officer said the trend may level off this year. as the company faces comparisons with its strong 2020 results.
Home Depot’s last quarter revenue was $ 32.26 billion, a 25% increase from $ 25.78 billion in the same three-month period a year earlier. Analysts polled by FactSet had forecast revenue of $ 30.63 billion in the quarter.
For the full year, the company’s sales increased 20% to $ 132.11 billion. This growth follows a broader trend of people spending more on home-related goods during the pandemic, as lockouts and telecommuting have focused their attention on the home. The public health crisis has also shifted consumer behavior in favor of retailers by weighing on spending on services, such as travel, entertainment and restaurants.
In the last quarter, the number of transactions with Home Depot customers increased 12.8% to 416.8 million, and the average transaction size rose to $ 75.69, from $ 68.29 in the fourth quarter of 2019. The Company ended the quarter with 2,296 retail stores.
The Home Depot on Tuesday posted fourth-quarter profit of $ 2.86 billion, or $ 2.65 per share, from $ 2.48 billion, or $ 2.28 per share, a year earlier. Analysts were forecasting earnings of $ 2.61 per share.