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Home Depot’s total sales rose 5.7%, while comparable sales increased 1.7%.
Acquisition and store growth helped the top line; the same-store measure shows a more restrained demand picture.
Sources
Home Depot Form 8-K and Exhibit 99.1, accepted August 18, 2026 at 6:10:33 a.m. ET.
Home Depot reported $47.861 billion of net sales for the fiscal quarter ended August 2, 2026, up 5.7% from $45.277 billion a year earlier. Comparable sales increased 1.7% and U.S. comparable sales increased 1.3%.
GAAP operating income increased 4.3% to $6.839 billion. Net earnings were $4.766 billion, or $4.79 per diluted share, compared with $4.551 billion and $4.58 a year earlier. Adjusted diluted EPS was $4.92. The company reaffirmed its fiscal 2026 guidance.
Total sales and comparable sales answer different questions. Total sales include changes in the store base and acquired operations; comparable sales aim to measure established locations and channels on a more consistent basis. The 4percentage-point gap between the two growth rates means the headline is not a same-store demand measure.
Management said customers continued to engage in smaller projects. The release reaffirmed full-year total-sales growth of approximately 2.5–4.5% and comparable-sales growth from approximately flat to 2%. Guidance also includes tariff refunds expected to partly offset unplanned fuel, energy and other product-input costs.
The quarter shows positive demand without a broad large-project claim. Comparable growth was positive, operating income rose more slowly than sales, and the guidance range remained unchanged. The next check is whether comparable sales hold as refund effects and input costs flow through the year.
Total sales are not same-store sales
Total sales can rise because a retailer adds stores or acquired businesses. Comparable sales focus on an established base, making them a cleaner—though still imperfect—measure of underlying customer demand.
The growth gap defines the quarter
Net sales increased 5.7%, U.S. comps increased 1.3% and operating income increased 4.3%. The release reaffirms rather than raises the full-year range.
What we do not know
The release does not quantify how much quarterly sales came from acquisitions versus other store-base changes in the headline table. It does not establish a housing-cycle turn or a stock-price implication.
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