(Boursier.com) — Home Depot, the American giant of the distribution of furniture and home equipment products, lost ground before the stock market on Wall Street following the publication of a guidance of annual profit below expectations, in a context of rising costs and falling demand. Home Depot will have to invest $1 billion in wage increases in North America. Despite everything, the chain increases its quarterly dividend by 10%.
Sales for the fourth quarter of Fiscal 2022 were $35.8 billion, an increase of 0.3% over the fourth quarter of Fiscal 2021. Comparable sales for the fourth quarter of Fiscal 2022 fiscal 2022 decreased 0.3% and comparable US sales decreased 0.3%. Net income for the fourth quarter of fiscal 2022 was $3.4 billion, or $3.30 per diluted share, compared to net income of $3.4 billion for the same period. fiscal 2021. For the fourth quarter of fiscal 2022, diluted earnings per share increased 2.8% from the same prior year period.
Sales for fiscal 2022 were $157.4 billion, an increase of 4.1%. Fiscal 2022 comparable sales increased 3.1% and U.S. comparable sales increased 2.9%. Net income for fiscal year 2022 was $17.1 billion, or $16.69 per diluted share, compared to net income of $16.4 billion for fiscal year 2021.
“Fiscal 2022 was another banner year for The Home Depot as our team continued to operate successfully in an exciting and dynamic environment,” said Ted Decker, Chairman and CEO. “Our ability to deliver growth on top of the $40 billion in sales growth achieved over the previous two years, while dealing with continued inflation, global supply chain disruptions and a hard work, is a testament to the investments we have made in the business, as well as the constant focus our associates have on our customers. I would like to thank our associates and our many partners for their hard work and dedication to our customers. “.
The 2023 forecasts are therefore very cautious. Comparable sales and revenue will be roughly flat compared to fiscal 2022, according to the group. The operating margin rate is expected to be around 14.5%, which reflects around $1 billion in additional annual compensation for ‘front-line hourly associates’. The decline in diluted earnings per share would be in the ‘mid’ single digit, ie a decline of around 5%.