Like-for-like remains at level of previous year

In its 2002 financial year (ending on 2 February 2003), Home Depot’s comparable store sales remained at the level of the previous year. Overall, the world’s largest home improvement retailer returned sales figures of $58.2 bn (54.1 bn €), up nine per cent on the previous year, although the latter included 53 weeks. Net earnings rose by 23.3 per cent to $3.7 bn (3.4 bn €). Total sales declined by two per cent in the last quarter, while like-for-like sales fell by six per cent in the same period. In the current year, Home Depot expects sales to increase by nine to twelve per cent, while comparable sales are forecast to remain at the same level or increase slightly. There will be no change in the rate of new store openings: 200 new openings are scheduled for the next twelve months, compared with 203 new stores during the last year. As of 2 February 2003, Home Depot operated 1 532 stores under the following names:
Name
Number of stores
Country
Home Depot
1,370
USA
89
Canada
12
Mexico
Expo Design Center
52
USA
HD Supply
5
USA
HD Landscape Supply
3
USA
Home Depot Floor Store
1
USA