Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

The Home Depot Lowers Earnings Outlook
Jan 3, 2003
 Printable format
 Email this Article
 Search

The Home Depot cut its earnings per share estimate for the fiscal year ending in February, citing slowing sales during the holiday season. The home improvement store chain revised its guidance from U.S. $1.57 per share to between $1.53 and $1.55 a share. Atlanta, GA, U.S.-based Home Depot said sales declined up to 10 percent during December, while the company had been expecting a drop of 3 to 5 percent. For the year, Home Depot said it expects total sales growth of 10 percent and earnings per share growth of 21 to 23 percent on a comparable 52-week basis for fiscal 2002.

Chairman and CEO Bob Nardelli said "our sales outlook for fiscal 2002 is short of our long-term target as we continue a major merchandising transformation to enhance both store appearance and product assortments." Despite the drop in sales, Mr. Nardelli said the company does not need a repeat of last year’s January clearance event. "These business trends indicate the likelihood of a challenging environment well into the next fiscal year," Mr. Nardelli said. "The Home Depot will focus on sales growth opportunities, including development of new products and assortments, as well as reinvestment in our stores, our associates and our systems, all with the goal of improving every customer’s shopping experience." The company will detail its plans in an investor conference Jan. 17. (Associated Press)

Back to Daily News

 

Daily News

...........................................................

Jul 29, 2014: Jarden Reports Record Net Sales in 2Q

Jul 29, 2014: LG USA Names VanderWaal to Head Marketing

Jul 29, 2014: Smart Meters May Provide An Entrance Point for Cyber Attacks on the Connected Home

Jul 29, 2014: TCL Will Manufacture Portable HVAC Equipment for Soleus Air

Jul 29, 2014: HVACR Contractors Outlook Remains Positive

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows