Home Depot Sees Year Sales Up 2.3%
ATLANTA (
) --
Home Depot
(HD) - Get Report
, the No. 1 home-improvement retailer, said Wednesday it expects fiscal-year sales to rise 2.3% with earnings from continuing operations up 27% to $1.97 a share.
Home Depot previously expected sales growth of 2.2% and per-share earnings of $1.94.
Analysts surveyed by Thomson Reuters forecast earnings for the fiscal year ending in January 2011 of $1.94 a share on sales of $67.59 billion.
Home Depot said the EPS guidance includes stock repurchases through the third quarter of the fiscal year, but excludes the impact of future share repurchases.
Home Depot, ahead of an analysts' meeting Wednesday, also lifted guidance for the year ending in January 2012 saying it expects sales growth of 2% to 2.5%, same-store sales growth in the low single digits and per-share earnings from continuing operations before share repurchases of about 7% to 9%.
Analysts forecast earnings for the year ending in January 2012 of $2.22 a share on sales of $69.17 billion.
-- Written by Joseph Woelfel
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