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The Home Depot Posts Net Income of $5.8 Billion
By Home Furnishings Business in on February 2006
The Home Depot reported net income of $1.3 billion for the fourth quarter on quarterly sales of $19.5 billion, a 15.9 percent increase from the same quarter last year.
Comparable store sales for the quarter jumped 5.5 percent.
The home-improvement giant's net income for the year hit $5.8 billion, compared to $5 billion in 2004. Sales for the year hit $81.5 billion, an 11.5 percent increase over fiscal 2004. Same-store sales for the year climbed 3.8 percent.
Company highlights included extending the business beyond the core home-improvement niche by introducing two direct-to-consumer brands that focus on home furnishings, décor and lighting.
The Atlanta-based retailer also opened 179 new stores, including five relocations and opened its 2000th store, including the 54th store in Mexico, during the year.