Home Depot Net Climbs 12.4 Percent in Second Quarter
August 14, 2012,
ATLANTA-Buoyed by rising sales and declining expenses, second-quarter net income for The Home Depot rose 12.4 percent to $1.5 billion.
Net sales in the quarter, which ended on July 29, edged up 1.7 percent to $20.6 billion, which included a pickup of 2.1 percent in same-store sales. "As expected," said Frank Blake, Home Depot's chairman and CEO, "second-quarter sales reflected the pull forward of seasonal activity into the first quarter. But we saw continued demand for core products and delivered second-quarter earnings above our expectations."
Home Depot said it now expects 2012 sales to rise by about 4.6 percent from last year.