Last quarter the company also set a record for its largest average ticket sale, at $57.54. The performance was driven by new stores and acquisitions as well as investments in technology, execution and other areas, executives say. The company's performance has prompted them to raise their full-year earnings per share forecast from a 10% to 14% per-share increase to between 14% and 17%.
The company's previously announced closing of 16 Expo Design Stores and the conversion of four into Home Depots was completed, says Carol Tome, the retailer's executive vice president and CFO. "We now have 34 very profitable Expo stores," she said during the company's quarterly conference call.
During its Q2, Home Depot opened 44 new stores, including the acquisition of seven Contractors' Warehouse remodeling supply stores in California. The company's current total store count is 1,940 in North America.
In the quarter, Home Depot executives announced that the company is acquiring National Waterworks Holdings, a business-to-business firm that makes products that repair water systems. Officials plan to close that deal by the end of the month.
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