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Home Depot Announces First Quarter Results05-15-07 | News
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Home Depot Announces First Quarter Results



ATLANTA ?EUR??,,????'??+ The Home Depot, the world’s largest home improvement retailer, has reported first quarter net earnings of $1 billion compared with $1.5 billion in the same period in fiscal 2006.

Sales for the first quarter totaled $21.6 billion, a 0.6 percent increase from the first quarter of fiscal 2006. Total sales in the retail segment declined 4.3 percent to $18.5 billion, and comparable store sales declined 7.6 percent. Total sales in the HD Supply segment grew by 46 percent to $3.1 billion, reflecting sales from acquired businesses.

“The housing market continues to be a challenge, and erratic weather conditions across the United States negatively affected our spring selling season,” said Frank Blake, chairman & CEO.

At the end of the first quarter, the Company operated a total of 2,170 retail stores, which included 1,895 The Home Depot stores in the United States (including the Commonwealth of Puerto Rico and the territory of the U.S. Virgin Islands), 155 stores in Canada, 63 stores in Mexico, and 12 stores in China. The Company also operates 34 EXPO Design Center??????oe locations, and 11 The Home Depot Landscape Supply??????oe stores.

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