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The Home Depot Announces Record Third Quarter 2005 Results11-15-05 | News
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The Home Depot Announces Record Third Quarter 2005 Results

ATLANTA ?EUR??,,????'??+ The Home Depot reported Tuesday third quarter fiscal 2005 net earnings of $1.5 billion up 20 percent from the third quarter of fiscal 2004.

Sales for the period increased $2.0 billion, or 10.5 percent, to $20.7 billion. Growth in comparable store sales was 3.6 percent.

“The execution of our strategy and the focus on our fundamentals has enabled us to consistently and predictably deliver strong results,” said Bob Nardelli, chairman, president & CEO.

Carol Tome, Home Depot Chief Financial Officer, added that The Home Depot Supply business for professional builders added almost one percentage point to comparable-store sales. Excluding that, traditional retail same-store sales rose 2.7 percent

During the quarter, the company opened 37 new stores across Canada, Mexico and the United States, bringing the total store count to 1,972 as of the end of the quarter. In the fourth quarter, the company will open its 2,000th store, including its 50th store in Mexico, which opened last week.

The company’s services business grew 21 percent to $1.2 billion during the third quarter. The Home Depot saw strong growth in installation categories such as HVAC, kitchens, countertops, windows and roofing/gutters.

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