Home Depot Reports Huge Jump in 4Q Profit

[rodbarnett]

ATLANTA (AP) - The Home Depot reported a nearly 39 percent jump in fourth-quarter profit on a 14 percent rise in sales, saying its growth and the renovation of its stores into a softer, cleaner look are paying off.
The results, announced Tuesday, beat Wall Street expectations.

<snip>

"These record results reinforce the fact that our strategy of investing nearly $10 billion in business growth and transformation over the past three years is producing the desired results for our customers and our shareholders," said chief executive Bob Nardelli. "The Home Depot is a company with a proud past and a bright future."

http://ap.tbo.com/ap/breaking/MGAQOQ4Y1RD.html

comment : must be a rush on duct tape and visquene

[otohara]

1. More Donations to Bush

are in order

[Frodo]

2. Can somebody please tell me???

Why I would spend more money at a HOME IMPROVEMENT store because it was "softer, cleaner"????

[MichaelUK]

3. Softer, cleaner

Dude, more women are doing home improvements. Men use to do all the decorating, now women are letting their artistic side go (personally, I blame those DIY reality TV shows). So they go shopping together, and women are more likely to go to the more feminine shop together

[Frodo]

6. Look.... I know this is sexist... but

They sell power tools and lumber and sheetrock and STUFF!

OF COURSE women use these things too.... but are they really looking for "softer" when they buy a table saw?

And I don't know what you mean by "men used to do all the decorating". I've put up wallpaper and such, but always at my wife's direction. I just don't have an eye for those things. I fought tooth and nail over the new dining room paint but let her have her way in the end (of course it looks great now).

[Ripley]

7. This is absurd. HD isn't making more sales due to prissy women...

It is making more profits because it only carries crap made in China, not America. And repuke budgets give them huge loopholes in order to bypass "fair" trade. For instance ceiling fans were clearly line-itemed.

[hang a left]

4. Maybe they got a new accounting firm.

[JaySherman]

5. Revenue from all those duct tape sales.

[CO Liberal]

8. Must Be the Floor Tiles I Bought There

:-)

[Corgigal]

9. Ok I confess

I just paid off my credit card.

[libview]

10. I just got a great deal on an air compressor.

It came with a 40 piece tool set!

[On the Road]

11. They Make Money on High-End and Designer Products

Not much profit on a $4.88 sheet of drywall or a bag of screws.

High-end front doors with installation, wood flooring, stain-resistant carpet, state-of-the-art washer/dryer sets -- that's where they make their money. And the folks who make those purchases don't want to shop in a place that looks like a warehouse.

[F.Gordon]

12. Home Depot spokesperson added.....

"These record results could not have been possible without the closing of all but one of our local competitors. Once we drive Lowes out of business we are confident that the future of Home Depot will continue to bright."

[emc]

14. Get real

There is no way HD is going to drive Lowes as it stands now out of business-----I used to invest in HD and shop there but now there is no comparison---and even the help in Lowes is better even with the factor that they are not as experienced----I don't get it where HD is reporting profits like 39%---its not here in the west----

[newyawker99]

15. Hi emc!!

Welcome to DU!! :toast:

[Florida_Geek]

13. Get this

AARP formed a national partnership to recruit people older than 50 to fill jobs at Home Depot...

AARP headhunter for Walmart and HD.....