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| Home Depot reports second quarter 2006 results Atlanta-based Home Depot, the world's largest home improvement retailer, said second quarter net earnings of $1.86 billion, up 9.8 percent compared to the same period in fiscal 2005. Sales for the second quarter of fiscal 2006 totaled $26.0 billion, a 16.7 percent increase from the second quarter of fiscal 2005. During the quarter, the company opened 30 new stores, including two relocations, with two new stores in Canada and one new store in Mexico, bringing the total store count to 2,079. The Home Depot's retail services business grew by 9.7 percent to $1.03 billion in the second quarter of fiscal 2006. Categories such as windows, roofing and exterior patios reported solid growth. In January, the company stated it would grow its 2006 sales by 14-17 percent and its earnings per share by 10-14 percent. Based on the current economic environment and its reinvestment program, the Home Depot believes its fiscal 2006 sales and earnings per share growth will be at the low end of its guidance. write your comments about the article :: © 2006 Construction News :: home page |