The Home Depot, Inc. (HD) released Q2 earnings recently, reporting sales of $38.1B, a 23.4 percent sales increase in comparison to last year’s earnings for the same quarter. Net Earnings of $4.3 billion were reported or $4.02 per share, both witnessed an increase from the last year’s figures.
The Company has spent $480 million approx in additional benefits like weekly bonuses for hourly associates in its stores and distribution centers. The company has also spent $1.3 billion approximately on pay and benefits in response and assistance to COVID-19.
“The investments we have made across the business have significantly increased our agility, allowing us to respond quickly to changes while continuing to promote a safe operating environment. This enhanced our team’s ability to work cross-functionally to better serve our customers and deliver record-breaking sales in the quarter,” , “We remain focused on continuing the momentum of our One Home Depot investment strategy that we believe will position us for continued growth over the long-term, while at the same time maintaining the flexibility to navigate the demands of the current environment. Through it all, we will continue to lead with our values by doing the right thing and taking care of our people.” stated Craig Menear, chairman, CEO, and president.
The Board declared a second-quarter cash dividend of $1.50 per share payable on September 17, 2020, to shareholders as on September 3, 2020. The earnings call and other details can be viewed at ir.homedepot.com/events-and-presentations.
The Home Depot, Inc. (HD) is the world’s largest home improvement retailer with retail stores all across North America. The Home Depot sells building materials and home improvement products, as well as lawn and garden supplies, and provides installation, home maintenance, and professional service programs. To learn more about The Home Depot, Inc. (HD), and to continue to track its progress please vista Partners The Home Depot, Inc. Coverage Page.
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