Home Depot's e-commerce exceeds $1B

The Home Depot (NYSE:HD) reported a 30 percent increase in e-commerce sales for the first quarter. Online sales accounted for 5 percent of the retailer's total sales.

The home improvement store's growing online presence earned it the No. 10 spot on Internet Retailer's 2015 Top 500 Guide. The retailer is finding better ways to connect stores, social media and mobile commerce to make shopping easier for consumers, said CEO Craig Menear on the company's quarterly earnings call.

"We not only offered more spring season product online, but also leveraged digital media channels to highlight local in-store assortments and create footsteps to our stores. In the store, our mobile app helped customers identify product locations with our enhanced product locator," Menear said.

Based on previous financial reportes, Internet Retailer estimated that online sales for Home Depot in the first quarter totaled $1.075 billion, compared with $826.98 million in the same quarter a year ago.

Kevin Hofmann, head of Home Depot's online business, pledged earlier this year to improve the retailer's online growth by speeding up delivery times and preventing "out of stock" notices.

In comparison, all sales for the retailer increased 6.1 percent to $20.89 billion, up from $19.69 billion one year ago. Comparable store sales also increased 6.1 percent, while same-store sales have been up for the past three quarters at Home Depot, due in large part to the overall improvement of sales at home improvement stores as homeowners seemingly become more confident and start to spend again in the wake of the recession.

Home Depot is still refining its buy online, pick up in-store option, which in 2014 accounted for 40 percent of all e-commerce transactions.

For more:
-See this Internet Retailer article

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