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Net earnings increase for Home Depot, Lowe's

Both stores expect gains for the remainder of the year

NMPro | August 18, 2010

Home Depot (NYSE: HD) reported second quarter of fiscal 2010 net earnings of $1.2 billion, or $0.72 per diluted share, compared with net earnings of $1.1 billion, or $0.66 per diluted share, in the same period of fiscal 2009.
 
Sales for the second quarter totaled $19.4 billion, a 1.8 percent increase from the second quarter of fiscal 2009. Comparable store sales for the second quarter of fiscal 2010 were positive 1.7 percent, and comp sales for U.S. stores were positive 1.0 percent.
 
Lowe's Home Improvement (NYSE: LOW) reported net earnings of $832 million for the quarter ended July 30, 2010, a 9.6 percent increase from the same period a year ago. Diluted earnings per share increased 13.7 percent to $0.58 from $0.51 in the second quarter of 2009. For the six months ended July 30, 2010, net earnings increased 7.0 percent to $1.32 billion while diluted earnings per share increased 9.5 percent to $0.92.
 

Sales for the quarter increased 3.7 percent to $14.4 billion, up from $13.8 billion in the second quarter of 2009. For the six months ended July 30, 2010, sales increased 4.2 percent to $26.7 billion. Comparable store sales for the second quarter increased 1.6 percent and for the first half of 2010 increased 2.0 percent. 

 

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