Home Depot Forecast Gets Even Better; Net Up 50 Percent
November 20, 2013 | 8:46 am CST
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Home Depot Forecast Gets Even Better; Net Up 50 PercentATLANTA -- The Home Depot (NYSE: HD) home improvement retailer reported sales of $19.5 billion for the third quarter, up 7.4% over 2012. 

The world's largest home improvement retailer reported U.S. stores open a full year were up 8.2%. The company also operates in Canada and Mexico. 

Net earnings for the third quarter were $1.4 billion, up almost 50 percent from the $947 million earned in 2012.  

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

Based on its year-to-date performance and outlook for the remainder of the year, The Home Depot raised its fiscal 2013 sales guidance and now expects sales to be up approximately 5.6%. That is up from 4.5%, about a 25% increase. Earnings-per-share will rise 24% - even more dramatic because 2013 has one week less sales period than 2012.   

The Home Depot employs 300,000 at 2,260 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.   (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.

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