Home improvement retailer The Home Depot reported sales of $18.2 billion in the fourth quarter of fiscal 2012, a 13.9% increase from the fourth quarter of fiscal 2011. Comparable store sales in 4Q 2012 were up 7.0%, and comps in U.S. stores were up 7.1%.
The fourth quarter of fiscal 2012 was 14 weeks, from 13 weeks in 4Q 2011. The 14th week added approximately $1.2 billion in sales for the quarter and the year. Excluding the 14th week, 4Q sales increased 6.3% compared to 4Q fiscal 2011. The additional week is not included in comparable store sales results for the quarter or the year.
Net earnings for the fourth quarter were $1.0 billion, up from net earnings of $774 million in 4Q fiscal 2011.
Sales for full-year fiscal 2012 were $74.8 billion, up 6.2% from fiscal 2011. Total company comparable store sales for the year increased 4.6%, and comps for U.S. stores were 4.9% for the year. Without including the 53rd week, sales for fiscal 2012 increased 4.5% from fiscal 2011.
"We ended the year with a strong performance as our business benefited from a continued recovery in the housing market coupled with sales related to repairs in the areas impacted by Hurricane Sandy," said Frank Blake, chairman and CEO.
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