Financials...The Home Depot
December 5, 2005
The Home Depot reported third quarter net earnings of $1.5 billion, up 20% vs. last year. Sales rose 10.5% to $20.7 billion for the quarter, and comparable store sales increased 3.6%. The Home Depot achieved a record average ticket of $58.92 by broadening its assortment and adding innovative and distinctive merchandise. “We saw average ticket growth across the store with real strength in kitchen and bath,” Tom Taylor, executive vice president, merchandising and marketing, said in a statement. The company opened 37 stores across Canada, Mexico and the United States during the quarter. It will open its 2,000th store in the fourth quarter. The company's services business increased 21% to $1.2 billion in the third quarter, with growth in installation categories such as HVAC, kitchens, countertops, windows and roofing/gutters.