Home Depot’s revenue rose less than 1% year over year to $35.8 billion in its fiscal 2022 fourth quarter ended Jan. 29. New store openings offset a slight decline in comparable store sales.
The number of customer transactions at the company’s stores decreased by 6% to 378.5 million, as higher mortgage rates and recession fears weighed on the housing market. However, a 5.8% increase in Home Depot’s average ticket price helped to offset the negative impact of lower traffic on its sales results.
In a press release, CEO Ted Decker said: Our ability to deliver growth on top of the $40 billion of sales growth achieved over the prior two-year period, while navigating persistent inflation, ongoing global supply chain disruptions, and a tight labor market, is a testament to investments we have made in the business, as well as our associates’ relentless focus on our customers.
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