Home Depot Expects FY Sales to Rise 5.6 Percent
ATLANTA-The Home Depot said it expects its net sales for the current fiscal year to finish 5.6 percent ahead of fiscal 2012 sales.
This growth will include a same-store sales gain of about 7 percent for the year. The home-improvement retailer also said it is projecting a gain of about 24 percent in earnings per share for the year. For fiscal 2014, Home Depot said it is predicting sales growth of about 5 percent, and an increase of about 17 percent in earnings per share.
The company released these projections early this morning. Today, it is conducting its annual Investor and Analyst Conference, during which it is providing an update on four areas of focus: customer service, product authority, disciplined capital allocation and interconnected retail.
In June 2012, Home Depot said it would target operating margin of 12 percent and 24 percent return on invested capital by the end of fiscal 2015. In today's statement, the retailer said it will reach these goals at the end of fiscal 2014, a year earlier than planned.
Frank Blake, Home Depot's chairman and CEO, said, "We have set out a challenging new goal for 2015 and plan to build on our company's foundation of customer service, product authority and value creation."