Page 4 - Flipbook Test

Letter to
Sharholders

approximately 150 new facilities to drive speed Investing for Continued Value Creation
and reliability of delivery for customers, and we Our distinct competitive advantages and execution
are leveraging our scale to create the lowest cost have delivered and will continue to deliver strong
network in our industry. We are now live with at least financial performance, as was the case in fiscal
one of each of the four major types of facilities we 2019. During fiscal 2019, sales were a record $110.2
are building and are pleased with the early results. billion, an increase of 1.9 percent compared to fiscal
The build out will continue to ramp from here, with 2018. Sales growth in fiscal 2019, a 52-week year,
the largest number of new facilities coming online reflects a comparison against a 53-week year in fiscal
in 2021 and 2022. 2018. Excluding the extra week in fiscal 2018, which
added approximately $1.7 billion of sales in fiscal
As you can see, we have accomplished a lot on our 2018, fiscal 2019 sales grew 3.5 percent. Fiscal 2019
multi-year journey. There is more work to do to unlock comparable sales growth was 3.5 percent for the total
the full value of the One Home Depot experience, but company and 3.8 percent in the U.S. Our fiscal 2019
the capabilities we have built thus far are meaningful net earnings were $11.2 billion, and earnings per
to our customers. We believe no one has more ways diluted share increased to $10.25.
to empower today’s home improvement customers
than we do. As a result, we recently unveiled our new While we define our sales growth in percentage
tagline, “How doers get more done™,” to signal The terms, we capture share in dollar terms, and through
Home Depot’s commitment to keeping pace with our the second year of our One Home Depot investment
customers’ evolving needs. program, we have grown sales by over $9 billion –