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| Home Depot's fourth quarter profits falls by almost 1/3 The Home Depot, the world's largest home improvement retailer, reported fourth quarter net earnings of $925 million, or $0.46 per diluted share, compared with $1.3 billion, or $0.60 per diluted share, in the same period in fiscal 2005. Excluding a $0.04 a share expense related to executive severance, the company reported, on an adjusted basis, $0.50 per diluted share. For the fourth quarter of fiscal 2006, sales totaled $20.3 billion, a 4.0 percent increase from the fourth quarter of fiscal 2005. Total sales in the retail segment declined 2.0 percent to $17.4 billion, and comparable store sales declined 6.6 percent in the fourth quarter. Total sales in the HD Supply segment grew by 64.4 percent to $2.9 billion, reflecting sales from acquired businesses. For fiscal 2006, Home Depot said its diluted earnings per share increased 2.6 percent to $2.79 on net earnings of $5.8 billion, compared to diluted earnings per share of $2.72 on net earnings of $5.8 billion in fiscal 2005. Excluding a $0.04 per diluted share expense related to executive severance, the company reported, on an adjusted basis, earnings per diluted share of $2.83, up 4.0 percent, compared to fiscal 2005. For fiscal 2006, net sales were $90.8 billion, an 11.4 percent increase over fiscal 2005. Fiscal 2006 net sales in the retail segment were $79.0 billion, an increase of $2.0 billion, or 2.6 percent above fiscal 2005, driven by new stores. Comparable store sales for the year declined 2.8 percent. Fiscal 2006 net sales in the HD Supply segment were $12.1 billion, an increase of $7.5 billion, or 161.6 percent above fiscal 2005, driven by solid organic growth and sales from acquired businesses. write your comments about the article :: © 2007 Construction News :: home page |