The claim, plainly
Home Depot's revenue and net income declined starting in 2007, bottomed in 2010, and did not return to 2007 peak levels until 2014.
a quote alone can be ambiguous, so this restates it with the
references and context of the conversation around it resolved. AI-written; the tape
below the player is the source.
Assessment
The claim correctly identifies the broader multi-year trajectory of Home Depot through the Great Recession, but conflates fiscal years, calendar years, and peak/trough timing across several legs. Specifically: (1) Revenue and net income did begin declining in FY2007 (ended February 3, 2008), falling from their FY2006 highs. (2) Revenue bottomed in FY2009 ($66,176M), which ended on January 31, 2010 (calendar 2010), but net income bottomed earlier in FY2008 ($2,260M, fiscal year ended February 1, 2009) before rebounding in FY2009 and FY2010 ($2,661M and $3,338M). (3) For the 'high watermark' return to pre-crisis peaks, pre-crisis peak levels were actually set in FY2006 ($79,022M continuing revenue and $5,761M net earnings), which were indeed not regained until FY2014 ($83,176M revenue and $6,345M net earnings). However, if strictly evaluated against FY2007 reported levels ($77,349M sales, $4,395M net earnings), Home Depot surpassed FY2007 net income by FY2012 ($4,535M) and FY2007 revenue by FY2013 ($78,812M). Because the pre-crisis peak recovery in FY2014 holds only for FY2006 peak numbers and net income bottomed in FY2008 rather than 2010, the bundled claim is partially true.
- The Home Depot, Inc. FY2006–FY2015 Form 10-K filings filed with the SEC.
- FY2006 peak: Net sales (continuing operations) of $79,022M and net earnings of $5,761M; declines began in FY2007 ($77,349M sales, $4,395M net earnings).
- Trough: Net sales bottomed in FY2009 at $66,176M (fiscal year ended January 31, 2010), but net income bottomed in FY2008 at $2,260M (ended February 1, 2009) and was already $3,338M by FY2010.
- Recovery: Pre-crisis peak levels (FY2006) were surpassed in FY2014 ($83,176M sales, $6,345M net earnings); FY2007 levels were surpassed earlier in FY2012 (net earnings: $4,535M) and FY2013 (net sales: $78,812M).
assessed as of 2026-09-14
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