Home Depot Reports Higher Earnings, Sales

Atlanta, GA, Feb. 21, 2012 -- Home Depot reported earnings for the fourth quarter were $774 million, or $0.50 per share, compared with net earnings of $587 million, or $0.36 per share, in the same period of fiscal 2010.

The firm reported sales of $16.0 billion for the fourth quarter, a 5.9% increase from the fourth quarter of fiscal 2010. Comparable store sales were up 5.7%, and comp sales for U.S. stores were up 6.1%.

For the fiscal year 2011, sales were $70.4 billion, an increase of 3.5% from fiscal 2010.

Earnings per share in fiscal 2011 were $2.47, compared to $2.01 per share in fiscal 2010, an increase of 22.9%.

"We had a strong finish to 2011, and with favorable weather, our business delivered results that exceeded our expectations," said Frank Blake, chairman and CEO.