The Home Depot (Atlanta) reported its net sales rose to $22.5 billion in the second quarter, marking a 9.5 percent increase compared with the same period of 2012. The company points out that due to the 14th week in the fourth quarter of fiscal 2012, second quarter sales were impacted by a calendar timing change that resulted in one less week of spring sales in the second quarter when compared to the same period of fiscal 2012.
The Home Depot (Atlanta) reported its net sales rose to $22.5 billion in the second quarter, marking a 9.5 percent increase compared with the same period of 2012. The company points out that due to the 14th week in the fourth quarter of fiscal 2012, second quarter sales were impacted by a calendar timing change that resulted in one less week of spring sales in the second quarter when compared to the same period of fiscal 2012.
Gross profit increased 9.9 percent from 2012 to 7.7 billion, and net earnings for the second quarter were 1.8 billion.
"The second quarter results exceeded our expectations as our business benefited from a rebound in our seasonal categories, continued strength in the core of the store and the recovering housing market in the U.S.," said Frank Blake, chairman & CEO, in a statement. "Our associates did an outstanding job of responding to the strong increased demand. I would like to thank them for their hard work and dedication."
Looking forward, the company predicts a 4.5 percent increase in sales by the end of 2013.
