Home Depot Reaffirms Fiscal 2001 Growth Rates

Author:: Yi Ping Ho
Publish date:: Nov 21, 2000 6:04 PM EST

Home Depot

reaffirmed its estimates of 23% to 25% growth in earnings per share for fiscal 2001.

Twenty-two analysts polled by

First Call/Thomson Financial

expect the company to earn $1.16 a share in the fiscal year ending in January. The Atlanta-based retailer also said it expects same-store sales to grow 3% to 4% and anticipates operating 2,300 stores by 2004.

On Nov. 14, Home Depot posted third-quarter earnings of $650 million, or 28 cents a share, meeting analysts' lowered estimates. The company had warned in October that it would miss earnings expectations for the third quarter and full year amid lower selling prices for lumber and buildings materials.

Shares of Home Depot closed lower by 1.6%, or 63 cents, to $38.25 in

New York Stock Exchange

composite trading.