Atlanta – The Home
Depot posted higher net earnings and sales in its fiscal first quarter.
Net earnings were $725
million in the quarter, ended May 2, compared with the prior year’s $514
million in the first quarter.
Sales for the
first quarter totaled $16.9 billion, a 4.3 percent increase from the first
quarter of fiscal 2009.
for the first quarter were positive 4.8 percent, and comp sales for U.S. stores
were positive 3.3 percent. On an adjusted basis, which excludes the impact of
sales related to the closing of the Expo businesses in the first quarter of
fiscal 2009, sales increased 5.7 percent.
First quarter of
fiscal 2010 results reflect a net impact to earnings of $33 million related to
the extension of Home Depot’s guarantee of a third-party senior secured loan.