Home Depot Q4 Sales Jump Nearly 10%

A resurgent housing market helped power record fourth quarter sales for the company, while year-over-year profit increased more than 10 percent.

Id 13166 Home Depot

Home Depot reported its 2015 fourth quarter and full year fiscal results on Tuesday for the period ended Jan. 31, posting more big gains for the consumer home improvement retailer.

The Alanta-based company reported Q4 sales of $21.0 billion, up 9.5 percent from the same period a year earlier. Home Depot said comparable store sales in Q4 gained 7.1 percent, and comparable sales for U.S. stores gained 8.9 percent.

Home Depot, which acquired Interline Brands last July for $1.63 billion, posted a Q4 profit of $1.47 billion, up from $1.38 billion a year earlier.

For the full year 2015, sales of $88.5 billion were up 6.4 percent from 2014. The company said comparable store sales in 2015 gained 5.6 percent, and comparable sales for U.S. stores gained 7.1 percent.

Profit for 2015 of $7.0 billion was a 10.5 percent increase over 2014.

"Our focus on improving the interconnected customer experience, along with solid execution and continued recovery in the U.S. housing market, resulted in record sales and net earnings for 2015," said Craig Menear, Home Depot chairman, CEO, and president.

The company said it expects full year 2016 sales to grow 5.1 to 6.0 percent, with comparable store sales growth of 3.7 to 4.5 percent

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