Ahead of its investor and analyst conference, Home Depot has provided an update on its strategic priorities and long-term financial targets.
Home Depot’s strategic goals include creating a stronger connection with customers and simplifying its business, improving merchandise assortment and value, improving shareholder value,and developing a competitive platform across all commerce channels.
“The Home Depot has a strong foundation of customer service, product authority and value creation. We will continue to build on our strategic priorities as we look to 2015 and beyond,” said Frank Blake, chairman and CEO.
Home Depot said it still expects sales to be up approximately 4.6% for the year and diluted earnings per share to be up approximately 17% to $2.90 for the year. In addition, the company updated its fiscal year 2012 share repurchase guidance and now expects share repurchases of approximately $4 billion. This is an increase of $500 million from the guidance provided in May 2012, but given the timing of the share repurchases, the increase will not have a material impact to diluted earnings per share for fiscal 2012.
In June of 2009, the company announced a long term operating target of a 10% operating profit and 15% return on invested capital. The company anticipates achieving this target by fiscal year end and has now set out a new long term, fiscal 2015, operating target of a 12% operting margin and 24% return on invested capital.
Source: retailingtoday.com
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