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Home Depot Posts Record Earnings02-21-06 | News

The Home Depot Posts Record Earnings






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Home Depot Reported Tuesday a fourth quarter profit increase of 23 percent.



ATLANTA ?EUR??,,????'??+ The Home Depot has reported record results for the fourth quarter and fiscal year 2005 based on strong performance in its core retail stores, its services business, Home Depot Direct and the continued expansion of the Home Depot Supply platform.

The company announced Tuesday that for the fourth quarter of fiscal 2005, earnings of net $1.3 billion, compared with net earnings of $1.0 billion reported for the same period in fiscal 2004. Sales for the fourth quarter of fiscal 2005 totaled $19.5 billion, a 15.9 percent increase from the fourth quarter of fiscal 2004. Comparable store sales for the fourth quarter of fiscal 2005 increased 5.5 percent.

For 2005, Home Depot?EUR??,,????'???s earnings were $5.8 billion, compared to net earnings of $5.0 billion in fiscal 2004. Sales for fiscal 2005 increased to $81.5 billion, an 11.5 percent increase over fiscal 2004, and comparable store sales for the year grew 3.8 percent.

?EUR??,,????'??Our performance in 2005 reflects the hard work and dedication of our 345,000 associates, and I want to personally thank them for another year of record results,?EUR??,,????'?? said Bob Nardelli, chairman, president & CEO. ?EUR??,,????'??In 2006, we will capitalize on our strong momentum and continue to deliver sustainable, predictable and profitable growth.?EUR??,,????'??

In 2005, the Home Depot opened 20 net new stores in Canada and 10 net new stores in Mexico. As of year-end 2005, approximately 9.4 percent of the company?EUR??,,????'???s store base was located outside of the U.S.

?EUR??,,????'??This year was one of significant growth,?EUR??,,????'?? said Carol Tome, executive vice president and CFO. ?EUR??,,????'??In 2005, we maintained our disciplined approach to capital allocation, investing $3.9 billion back into our business, spending $2.5 billion to acquire 21 companies and returning nearly $3.9 billion to shareholders in the form of dividends and share repurchases.?EUR??,,????'??

Founded in 1978, The Home Depot is the world?EUR??,,????'???s largest home improvement specialty retailer and the second largest retailer in the United States. At the end of fiscal year 2005, the company employed approximately 345,000 associates in 2,042 stores in all 50 states, the District of Columbia, Puerto Rico, 10 Canadian provinces and Mexico. The company also operates 34 EXPO Design Center locations, 11 THD Landscape Supply stores, eight Contractors?EUR??,,????'??? Warehouse stores, three THD Supply stores, and two THD Floor Stores.

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