ATLANTA, GA -- The Home Depot, the world's largest home improvement retailer, today reported third quarter net earnings of $834 million, compared with net earnings of $689 million in the same period of fiscal 2009.
Sales for the third quarter totaled $16.6 billion, a 1.4 percent increase from the third quarter of fiscal 2009. Comparable store sales for the third quarter of fiscal 2010 were positive 1.4 percent, and comp sales for U.S. stores were positive 1.5 percent.
"Our third quarter sales reflect the fourth consecutive quarter of positive same store sales for our business. As the business stabilizes, we continue to improve our operational performance. We are exercising good control over our expenses but we're also investing in the business to drive improvements across customer service, merchandising and our supply chain," said Frank Blake, chairman & CEO. "I want to thank our associates for their hard work and dedication."
Updated Fiscal 2010 Guidance
Based on its year-to-date performance and expectations for the remainder of the fiscal year, the Company updated its fiscal 2010 guidance and now expects sales to be up approximately 2.2 percent for the year. The Company expects diluted earnings per share from continuing operations as reported to increase by approximately 25 percent to $1.94 for the year.