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Home Depot Sees 14% Growth

ATLANTA-Strong performance in last year's Q4 compels the home improvement retailer to boost its guidance for 2006.

By Jennifer D. Duell | Updated on February 22, 2006

ATLANTA-The Home Depot posted record results for its fourth quarter and fiscal year 2005, driving the retailer to raise its 2006 guidance to 14% to 17% revenue growth and 10% to 14% earnings growth. The announcement was made by Home Depot’s executive vice president and CFO Carol Tome during the retailer’s earnings conference call.

The middle point in those ranges puts this year’s total sales at $94.5 billion and earnings at $3.05 a share. Both results would beat Wall Street’s projections, where analysts are currently expecting annual sales of $91 billion and earnings of $3.03 a share.

During the conference call, Home Depot chairman, president & CEO Bob Nardelli said that sales growth among Baby Boomers has significantly impacted the company as they seek do-it-yourself and do-it-for-me products and services. The retailer’s average ticket grew to a record $57.98 for fiscal year 2005, an increase of 5.6% from the prior year. Top sellers were refrigerators, washing machines and kitchen cabinets.

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