Sales Boost Helps Home Depot to 31.9 Percent Net Gain in Q4
February 26, 2013,
ATLANTA-Fueled by a strong sales increase, Home Depot's fourth-quarter net income jumped 31.9 percent to $1 billion--bringing its bottom line for the year to $4.5 billion, up 16.8 percent from the prior fiscal year.
Net sales for the quarter, which ended on Feb. 3, totaled $18.2 billion, a gain of 13.9 percent and including a rise of 7 percent in same-store sales. For the fiscal year, net sales were $74.8 billion, up 6.2 percent and including a 4.6 percent increase in same-store sales. "We ended the year with a strong performance as our business benefited from a continued recovery in the housing market, coupled with sales related to repairs in the areas impacted by Hurricane Sandy," said Frank Blake, Home Depot's chairman and CEO.
For the new fiscal year, Home Depot is projecting total sales growth of about 2 percent, including a same-store sales gain of 3 percent.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money