Atlanta-based The Home Depot reported sales for the fiscal year 2024 were $159.5 billion, up 4.5% from 2023. Profit was $14.8 billion, down 2%.
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For the fourth quarter, sales were $39.7 billion, up 14.1% from the prior-year period. Profit for the quarter was $3 billion, up 7.1%.
In June, The Home Depot acquired SRS Distribution, which contributed $6.4 billion in sales to Home Depot in 2024.
“Growing our share of wallet with all our Pro customers is a key part of our growth strategy,” said Ted Decker, The Home Depot’s president and CEO. “We’ve continued investing in our in-store experience, fulfillment options and sales teams. These investments are delivering incremental sales growth.”
Ann-Marie Campbell, senior executive vice president, said that the company’s improving B2B capabilities, including dedicated sales teams and an enhanced B2B website, have helped it gain more business from contractors.
“Our initiatives are resonating with Pros and not only are we are gaining traction with the larger Pro that works on complex projects, we are also seeing a meaningful lift in sales with all Pros across all purchase occasions,” said Campbell. “In fact, these investments have driven over $1 billion in incremental sales, on an annualized basis, in 17 markets.”
The Home Depot operates 2,347 retail stores and 780 branches across North America, employing over 470,000 people.
Lindsay Young is the president of 3 Aspens Media, a B2B content strategy and marketing content firm that works with distributors to translate their offline expertise – online. She has more than 20 years of experience leading and producing online and print content for publications and businesses. She leads a team of 12 writers, client success managers, designers, marketing specialists and strategists to produce content that helps companies translate their benefits to key decision-makers. She was previously the editor of Modern Distribution Management (mdm.com), a leading resource for wholesale distribution industry executives. Reach her at lindsay@3aspensmedia.com.