For Home Depot, Amazon doesn’t seem to be as big of a threat as it is for fashion retailers and department stores. The home improvement chain’s quarterly sales reached a record high this year when many retailers are closing their stores.
With more than 2,200 stores across the U.S., Canada and Mexico, Home Depot reported last month quarterly sales of around $28 billion, up 6.2 percent from the same period a year prior, and its same-store sales were up 6.3 percent from last year. This is the highest quarterly sales and net earnings in company history, according to Home Depot. Nonetheless, nervous investors knocked 3 percent off Home Depot’s value out of fears the Amazon Effect could spread to all areas of retail.
