Three-hour express delivery launches nationwide for flat fee
Home Depot on Tuesday reported second-quarter revenue of $47.86 billion, up from $45.28 billion a year earlier and exceeding the $47.24 billion that Wall Street had expected, according to a FactSet analyst survey.
“Our second quarter results exceeded our expectations,” Chief Financial Officer Richard McPhail said in the announcement. “We saw broad based demand across the business as customers continued to engage in smaller projects.”
McPhail tied the quarter’s demand to smaller projects during the summer months. The Associated Press, reporting on the results, characterized the broader U.S. housing sector as “mired in a slump.”
Comparable store sales — a key indicator of retailer health — climbed 1.7% globally and 1.3% in the U.S. Customer transactions slipped 1% in the quarter, but the amount shoppers spent rose to $92.50 per average receipt from $90.01 a year earlier.
Home Depot also announced Tuesday the nationwide launch of express delivery. The service will get orders to customers within three hours or less. It will be available for a small flat fee in the U.S., with no subscription or membership required.