Home improvement retail giant The Home Depot reported sales of $16.0 billion for the fourth quarter of fiscal 2011, up 5.9% increase from the fourth quarter of fiscal 2010. Comparable store sales for the fourth quarter of fiscal 2011 were up 5.7%, and comp sales for U.S. stores were positive 6.1%. Net earnings for the fourth quarter were $774 million, up from $587 million in 4Q of the previous fiscal year.
Sales for fiscal 2011 were $70.4 billion, up 3.5% from fiscal 2010. Total company comparable store sales for the year were up 3.4%, and comp sales for U.S. stores were up 3.0%.
Home Depot will have 53 weeks of operating results in fiscal 2012. It expects sales to grow 4% for the year, including the 53rd week (which is expected to add about $1 billion to total sales).
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