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Home Depot’s 2020 Sales Soar 19.9%

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The Home Depot Inc. (NYSE: HD), Atlanta, Georgia, reported sales for 2020 of $132.1 billion, up 19.9% from 2019. Net income improved 15.2% to $12.9 billion.

For the fourth quarter, the company reported sales of $32.3 billion, a 25.1% increase compared to the same period a year ago. Net income increased 16% to $2.9 billion in the period.

The Home Depot said net earnings for the fourth quarter and the fiscal year were “negatively impacted by non-recurring, pre-tax expenses related to the completion of the acquisition of HD Supply Holdings Inc. on December 24, 2020, which totaled approximately $110 million, or $0.09 per diluted share.”

The Home Depot announced in November it had agreed to acquire distributor HD Supply Holdings for $56 per share, or $8.7 billion. HD Supply was once part of Home Depot before being sold to a consortium of private equity firms in 2007.

The post Home Depot’s 2020 Sales Soar 19.9% appeared first on Modern Distribution Management.

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