Home Depot outperforms in Q1
Retail Editor 4 -- Home Textiles Today, May 21, 2013
Atlanta - The Home Depot credited the recovering housing market for its better-than-expected first quarter results and boosted its guidance for the full fiscal year.
Net earnings for the quarter ended May 5 jumped 20% to $1.2 billion, or 83 cents per share. Sales rose 7.4% to $19.1 billion, with comps up 4.3% for the total company and up 4.8% for the U.S. division.
Home Depot now expects sales to be up approximately 2.8% for the fiscal year and same-store sales up 4.0%. It is projecting 17% increase in earnings per share.
At the end of the first quarter, the Company operated a total of 2,257 home centers in the U.S., the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.
Industry Related Content
Celebrity Branding at NY Home Fashions Market