The Home Depot on Tuesday reported Q4 net sales rose 0.3% year over year to $35.8 billion. Lower lumber prices drove down company-wide comps, which were flat, by 70 basis points.
Customer transactions fell 6% to 378.5 million, but average ticket value rose almost that much to $90.05, according to a company press release. Net income in the quarter rose 0.3% to $3.4 billion.
The home improvement retailer said that, beginning in the first quarter, it will invest an additional $1 billion in annualized compensation for frontline, hourly associates.
Source: Retail Dive
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