Home improvement retailer The Home Depot reported sales of $15.1 billion for the fourth quarter of fiscal 2010, a 3.8% increase from the fourth quarter of fiscal 2009. Comparable store sales for 4Q2010 were up 3.9% and comp sales for U.S. stores were up 4.8%.
Net earnings in the fourth quarter from continuing operations were $587 million, up from $301 million in 4Q 2009.
Sales for fiscal year 2010 were $68.0 billion, up 2.8% from fiscal 2009. Total company comparable store sales for 2010 increased 2.9%, and comps for U.S. stores were up 2.5% for the year.
Consolidated 2010 net earnings were $3.3 billion, compared to $2.7 billion in fiscal 2009.
Home Depot updated its fiscal 2011 guidance and now expects sales to be up approximately 2.5% for the year.
At the end of the fourth quarter Home Depot operated 2,248 retail stores, which included 1,976 stores in the United States, 179 in Canada, 85 in Mexico, and 8 in China.
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