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Home Depot Reports Increased Second-Quarter Sales

August 14, 2012

Home Depot reported sales of $20.6 billion for the second quarter of fiscal 2012, a 1.7 percent increase from the second quarter of fiscal 2011. Comparable store sales for the second quarter of fiscal 2012 were positive 2.1 percent, and comp sales for U.S. stores were positive 2.6 percent.

Net earnings for the second quarter were $1.5 billion, compared with net earnings of $1.4 billion, in the same period of fiscal 2011.

“As expected, 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 Chairman and CEO Frank Blake said.

The company confirmed that it expects fiscal 2012 sales to be up approximately 4.6 percent from the prior year on a 53-week basis.

At the end of the second quarter, Home Depot operated a total of 2,255 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, Mexico and China, one more than in the first quarter of fiscal 2012.