The 2020 Mid-Year Economic Update_long

Home Depot 2011 Sales Up 3.5%

Profit for the home improvement retailer increased 16.3 percent.

The Home Depot (NYSE: HD), Atlanta, GA, reported sales for 2011 were $70.4 billion, up 3.5 percent over sales in 2010. Total company comparable store sales for the year increased 3.4 percent, and comparable store sales in the U.S. grew 3 percent.

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Profit for the home improvement retailer increased 16.3 percent to $3.9 billion in 2011.

For the fourth quarter, sales were $16 billion, up 5.9 percent in a year-over-year comparison. Comparable store sales for the fourth quarter of fiscal 2011 were positive 5.7 percent, and comp sales for U.S. stores were positive 6.1 percent.

Profit for the fourth quarter grew 31.9 percent to $774 million.

\”We had a strong finish to 2011, and with favorable weather, our business delivered results that exceeded our expectations,\” CEO Frank Blake said.

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