20 percent net income improvement for The Home Depot in 2Q-2013

Aug 23, 2013 | Retail / Distribution | 0 comments

U.S. (Notifix) – The Home Depot, the world’s largest home improvement retailer, reported sales of USD 22.5 billion for the second quarter of fiscal 2013.  Total sales increased 9.5 percent from the second quarter of fiscal 2012.

Second quarter sales were impacted by a calendar timing change that resulted in one less week of spring sales in the second quarter when compared to the same period of fiscal 2012. This shift reduced total sales growth by approximately USD 249 million or 120 basis points.

Net earnings for the second quarter were USD 1.8 billion, compared with net earnings of USD 1.5 billion in the same period of fiscal 2012.

“The second quarter results exceeded our expectations as our business benefited from a rebound in our seasonal categories, continued strength in the core of the store and the recovering housing market in the U.S.,” said Frank Blake, chairman & CEO. “Our associates did an outstanding job of responding to the strong increased demand. I would like to thank them for their hard work and dedication.”

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