Home Depot Posts Higher Net Sales, Earnings

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Atlanta - The Home Depot reported higher net sales and net earnings in the fiscal fourth quarter, ended Jan. 29.

Sales for the quarter were $16 billion, a 5.9 percent increase from the fourth quarter of fiscal 2010. Comp-store sales for the quarter were up 5.7 percent, and comp sales for U.S. stores were up 6.1 percent.

Net earnings for the fourth quarter were $774 million, compared with net earnings of $587 million in the same period of the prior year.

For the fiscal year sales were $70.4 billion, an increase of 3.5 percent from fiscal 2010. Total company comp-store sales for the year increased 3.4 percent, and comp sales for U.S. stores were positive 3 percent for the year.

Net earnings were $3.9 billion, up from the prior fiscal year's $3.33 billion.

At the end of the fiscal fourth quarter, Home Depot operated a total of 2,252 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, Mexico and China.

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