Home Depot Expects to Open 185 New Stores This Yea
Atlanta, GA, Jun. 7--Home Depot Inc. said Friday that it expects to open 185 new stores in its current fiscal year.
In its annual report filed in April with the SEC, the home improvement retailer had projected opening 175 new stores in its year ending Feb. 1, 2005.
Also in its quarterly report Friday, Home Depot said it increased borrowings under both its commercial paper program and a related credit facility.
Two weeks ago, Home Depot issued a new offering memorandum that increased the borrowing capacity under the commercial paper program to $1.25 billion from $1 billion. As of May 2, there were no borrowings outstanding under the program, according to the filing.
The company said the related back-up credit facility, which was due to expire in September, was renewed until May 2009 and the capacity was increased to $1 billion from $800 million. Home Depot had previously said it intended to renew the credit facility.
