The Home Depot, the world's largest home improvement retailer, reported sales of $17.8 billion in the first quarter of fiscal 2012, up 5.9% from the first quarter of fiscal 2011. Comparable store sales for the first quarter of fiscal 2012 were up 5.8%, and comps for U.S. stores were up 6.1%.
Net earnings for the first quarter were $1.0 billion, up from net earnings of $812 million in the first quarter of fiscal 2011.
"We saw a stronger-than-expected start to the year, driven by record warm weather and continued demand for core products," said Frank Blake, chairman and CEO.
Home Depot updated its fiscal 2012 guidance and now expects sales to be up about 4.6% for fiscal 2012 on a 53-week basis.
Home Depot operates 2,254 retail stores in the United States, Canada, Mexico, and China.
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