The Home Depot reported today that sales in the first quarter of 2013 reached $19.1 billion, a 7.4 percent increase from the first quarter of 2012. The company said that approximately $574 million of those sales were due to the 14th week of the fourth quarter of 2012 providing a beneficial shift in seasonal timing.
The company claimed an operating income of $2.0 billion for the quarter, 22.2 percent above 2012, and a gross profit of $6.6 billion, an 8.0 percent increase over 2012.
Based on these positive numbers, The Home Depot is more optimistic about the balance of 2013, expecting sales to increase 2.8 percent. The company also plans to repurchase $4.4 billion in shares over the remainder of the year.
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