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Home Depot bumps earnings up 25%

The Home Depot, the world’s biggest home improvement retailer, increased 2nd quarter earnings 25% to $US1.5 billion, or US70c/diluted share, on sales up 11% to $US20 billion.

Same-store sales rose 4.8%, with strength across all geographic regions.

The company completed a $US6 billion share repurchase programme during the quarter and said it would buy back another $US1 billion of shares.

Bob Nardelli, chairman, president & chief executive, said the return on invested capital was 20.4%, up 260 basis points, operating margin was a record 12.3%.

The Home Depot is forecasting full-year sales growth of 10-12% and increased earnings/share growth guidance from 10-14% to 14-17%.

The Home Depot added 48 stores during the quarter for a total 1788 stores, including some in Canada & Mexico.

Website: The Home Depot

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