Global sales of the Home Depot and Lowe's 2022 | Statista (2024)

FAQs

What is the sales of Home Depot in 2022? ›

Sales for fiscal 2022 were $157.4 billion, an increase of $6.2 billion, or 4.1 percent, from fiscal 2021.

Home Depot: global net sales 2007-2023

In 2023, Home Depot reached almost 153 billion U.S. dollars in net sales worldwide, down from roughly 157 billion recorded a year earlier.

In 2023, Home Depot's annual sales amounted to over 152 billion U.S. dollars, whereas its main competitor, Lowe's, reached more than 86 billion U.S. dollars of sales.

Lowe's annual revenue for 2024 was $86.377B, a 11.01% decline from 2023. Lowe's annual revenue for 2023 was $97.059B, a 0.84% increase from 2022. Lowe's annual revenue for 2022 was $96.25B, a 7.43% increase from 2021.

Net earnings for fiscal 2023 were $15.1 billion, or $15.11 per diluted share, compared with net earnings of $17.1 billion, or $16.69 per diluted share in fiscal 2022.

Sales for fiscal 2023 were $152.7 billion, a decrease of 3.0% from fiscal 2022. Comparable sales for fiscal 2023 decreased 3.2%, and comparable sales in the U.S. decreased 3.5%.

Home Depot tends to have a wider variety of exclusive products sold for slightly lower prices on average, while Lowe's brands seem to be more focused on stocking high-quality tools that first-time DIYers often require.

As of 2020, Home Depot is ranked #26 on the Fortune 500 rankings of the largest United States corporations by total revenue. In 2023, the company was ranked 67th in the Forbes Global 2000.

Generationally, baby boomers are Home Depot's most important customers. The generation born after World War II accounts for about half of Home Depot's revenue, which is unsurprising considering about 40% of the nation's homeowners are boomers, and they own about half of the total home value in the country.

Why do people prefer Home Depot over Lowes? ›

Home Depot is more oriented towards contractors and professionals than Lowe's. This means that the selection of most categories of materials and items is greater and often of somewhat better quality. The big exception is in their stock of lumber and sheet goods.

As the world's first and second-largest home improvement retailers, Home Depot and Lowe's share many similarities. They compete for a shared customer base across the U.S. and Canada.

Lowe's CEO, Marvin Ellison, had a compensation of $17.5m in 2022, while the median worker pay was $29,584 for the year. CEOs of the “low-wage 100” who had been at their company from at least 2019 until 2022 saw their personal stock holdings increase 33% during those three years, growing an average of $184.7m.

On Feb. 27, Lowe's reported financial results for 2023 and gave its financial outlook for 2024. The company expects its sales to drop between 2% and 3% year over year in the coming year. And management expects full-year EPS of $12 to $12.30, which would represent a 7% to 9% drop.

Earnings per share: $2.82 vs. $2.77 expected. Revenue: $34.79 billion vs. $34.64 billion expected.

Fourth-quarter transactions at Home Depot fell 1.7%, logging their eleventh straight quarterly decline, while comparable sales dropped a bigger-than-expected 3.5%. "There was an expectation ... that the company could return to growth sooner than they're guiding to," said Jonathan Reid, a director at Fitch Ratings.

Home Depot annual gross profit for 2024 was $50.96B, a 3.44% decline from 2023. Home Depot annual gross profit for 2023 was $52.778B, a 3.83% increase from 2022. Home Depot annual gross profit for 2022 was $50.832B, a 13.33% increase from 2021.