Home Depot reported net earnings of $1.4 billion, or $1 per diluted share, compared with net earnings of $1.2 billion, or $0.83 per diluted share, in the same period of fiscal 2013. Total sales for the first quarter of fiscal 2014 were $19.7 billion, a 2.9 percent increase from the first quarter of fiscal 2013, and same-store sales rose 2.6 percent over the same period.
Slow sales in some stores caused by a weather-related slow start to the spring selling season were at least partially offset by solid results in markets where the weather had less or no impact, said Frank Blake, chairman and CEO. The company reaffirmed that it expects full fiscal 2014 sales will be up approximately 4.8 percent from the previous year.
Home Depot operates 2,263 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico, employing more than 300,000.
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