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The Home Depot opens 22 new stores

The Home Depot opened 22 new stores on a net basis in the third quarter of fiscal 2021 (ended October 31) based on the close of the same period in 2020.

The company opened four stores in the United States and one store in Mexico during the third quarter of fiscal 2021, resulting in a total store count of 2,317, including 14 stores in the United States from a small acquisition completed during the second quarter. of fiscal year 2021.

The Home Depot is the world’s largest home improvement retailer based on net sales for fiscal 2020.

In general, the company offers its customers a wide variety of building materials, home improvement products, lawn and garden products, decoration and maintenance products, repair and operations products and provides a number of services, including services installation of home improvement and rental of tools and equipment.

At the end of fiscal year 2020, it had 2,296 The Home Depot stores located throughout the United States, Canada and Mexico.

Stores average approximately 104,000 square feet of enclosed space, with an additional 24,000 square feet of outdoor garden area.

New stores

The company reported net sales of $ 36.8 billion in the third quarter of fiscal 2021.

Additionally, its net earnings were $ 4.1 billion.

During the first nine months of fiscal 2021, the company’s net sales were $ 115.4 billion and net profits totaled $ 13.1 billion.

As of October 31, 2021, a total of 311 stores, or 13.4%, were located in Canada and Mexico.

For the third quarter of fiscal 2021, retail sales per square foot were $ 587.28.

Furthermore, its inventory turnover ratio was 5.4 times at the end of the third quarter of fiscal 2021, compared to 5.9 times at the end of the third quarter of fiscal 2020.

It generated $ 13.4 billion of cash flow from operations and issued $ 3 billion of long-term debt during the first nine months of fiscal 2021.

This cash flow, along with available cash, was used to fund cash payments of $ 10.4 billion for share buybacks, payments of $ 5.3 billion in dividends, financing of $ 1.7 billion in capital expenditures, and repayment of a total of $ 1.5 billion. millions of long-term debt.

 

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