AddThis

Home Depot sales up 7.4%

The world's largest home improvement retailer reports comps also rose 7.4%, on sales of $19.5 billion.

The Home Depot reported sales of $19.5 billion for the third quarter of fiscal 2013, a 7.4% increase from $18.1 billion in the third quarter of fiscal 2012.

On a like-for-like basis (last year's quarter had an extra calendar week), comparable-store sales for the third quarter of fiscal 2013 were positive 7.4%, and comp sales for U.S. stores were positive 8.2%. 

"Our third-quarter results reflect the continuing improvement in the housing market and our solid operational performance,” said Frank Blake, chairman & CEO

Net earnings for the third quarter were $1.35 billion, compared with net earnings of $947 million in the same period of fiscal 2012. Last year's quarter included a nonrecurring charge of approximately $165 million due to the closing of seven stores in China.

The "solid" quarter brought improved guidance. The company raised its fiscal 2013 sales guidance to 5.6%. Comparable-store sales, on a 52-week like-for-like basis, are expected to be up approximately 7.0% for the year. 

At the end of the third quarter, the company operated a total of 2,260 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.


Want to read more?
This content is available only to registered users. Log in to read the rest of this article or create a free account.
© 2014 Home Channel News. All Rights Reserved.