Home News UPDATE: Home Depot exceeds expectations and is optimistic

UPDATE: Home Depot exceeds expectations and is optimistic

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By Joan E. Solsman and Mary Ellen Lloyd
DOW JONES NEWSWIRES 


ATLANTA (Dow Jones) – U.S. home improvement chain Home Depot has the fourth Quarter (January 31) black numbers written and market expectations exceeded. The company benefited from lower depreciation and an increase in turnover to-like basis, as the Home Depot Inc announced on Tuesday.

Net income was USD 342 million or $ 0.20 per share. In Year-ago quarter, the company had a loss of USD 54 million or $ 0.03 per Shares accounted for. Thomson Reuters poll of analysts had a consensus expected a net profit of $ 0.12 per share. In Scored the reporting period in Atlanta, Georgia-based Undertaking a decrease in sales from 0.3% to 14.57 billion U.S. dollars. Like basis, sales rose by 1.2%.

As a result of the fourth quarter write-downs of 163 million USD are included on the investment in HD Supply, while in Prior-year quarter special charges of 602 million USD in the context in Job cuts and the abandonment of certain business activities had been recorded.

Earnings from continuing operations amounted to fourth quarter of $ 0.18 per share. Excluding special items rose to Earnings from continuing operations to 0.24 (0.19) $ per Share. Home Depot’s gross margin has improved to 34.4% from 34% previously.

Despite the continuing difficult environment, the company had made solid progress in 2009, said CEO Frank Blake, according to Communication. For the new fiscal year 2010/11 Home is aiming a depot Sales up to 2.5%. Provides continuing operations in the Company earnings per share approximately 15.5% higher at EUR 1.79 USD.

Overall, Home Depot has provided strong numbers, according to an analysis of JPMorgang Chase & Co for the customers of U.S. Bank. The results underscored the recovery in the DIY sector and the efforts of Home Depot, the gross margin increase, it was said.

At 13.08 CET clock, the stock of Home Depot at around 1% increase noted in for 30.67 USD.

   

Website: www.homedepot.com

- By Joan E. Solsman and Mary Ellen Lloyd, Dow Jones Newswires;
+49 (0) 69 29725 102, unternehmen.de @ dowjones.com

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(END) Dow Jones Newswires

February 23, 2010 07:38 ET (12:38 GMT)

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