Web sales for Home Depot grow 36% in 2014

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From InternetRetailer

Web sales for Home Depot grow 36% in 2014

BY MARK BROHAN Research Director  |  February 24, 2015

Home Depot added $1 billion in web sales in 2014, and e-commerce accounted for 23% of the growth in all revenue and now accounts for 4.5% of all sales.

It was another big year online for The Home Depot Inc. and it’s taking to social media to get the word out.

This morning in a tweet, Home Depot mentioned that e-commerce sales grew by over 36% in 2014 and added another $1 billion in total e-commerce revenue.

Based on that metric and for the year ended Feb. 1, Internet Retailer estimates web sales reached $3.750 billion, up 36.0% from $2.758 billion in 2013.

For the year, Home Depot reported:

• Total sales increased 5.5% to $83.176 billion from $78.812 billion in 2013.
• Comparable-store sales increased 5.3%.
• Net earnings were $6.345 billion compared with $5.385 billion in 2013.
• The web accounted for 4.5% of total revenue compared with 3.5% in 2013.

The growth in e-commerce of $1 billion accounted for nearly one quarter—23%—of the increase in all sales of $4.364 billion.

Home Depot, No. 16 in the Internet Retailer 2014 Top 500 Guide, says such factors as an aggressive ship to store program helped to boost web sales. “Almost 40% of online orders are picked up in the store,” CEO Craig Menear told Wall Street analysts on Tuesday’s fourth-quarter earnings call.

For the fourth quarter:

• Total sales increased 8.3% to $19.162 billion compared with $17.696 billion in the fourth quarter of 2013.
• Comparable-store sales increased 7.9%.
• Net earnings were $1.379 billion compared with $1.013 billion in the fourth quarter of 2013.

Home Depot didn’t break out Q4 web sales.