Home Depot 1Q beats plan
Company raises fiscal year guidance
HTT Staff -- Home Textiles Today, 5/15/2012 11:14:07 AM
Atlanta - Home Depot's first quarter profit jump 23% to $1.0 billion, or 68 cents per share.
For the quarter ended April 29, sales rose 5.9% to $17.8 billion. Total comps were up 5.8%, with U.S. comps up 6.1%.
"We saw a stronger-than-expected start to the year, driven by record warm weather and continued demand for core products," said Frank Blake, chairman and ceo.
Home Depot now expects its fiscal year earnings per share to grow 17% to $2.90, with sales up 4.6%.
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