The Home Depot Announces Fourth Quarter & Fiscal 2013 Results; Increases Quarterly Dividend By 21 Percent And Provides Fiscal Year 2014 Guidance
Sales for fiscal year 2013 were $78.8 billion, an increase of 5.4 percent from fiscal year 2012. Excluding the 53rd week in the prior fiscal year, sales for fiscal year 2013 increased 7.2 percent from fiscal 2012. Total company comparable store sales for fiscal year 2013 increased 6.8 percent, and comp sales for U.S. stores were positive 7.5 percent for the year.
“In 2013, we posted our strongest comp sales growth in 14 years as solid execution and the recovering housing market aided our performance,” said Frank Blake, chairman & CEO. “I’d like to thank our associates for their hard work and commitment to our customers.”
The Company provided the following guidance for fiscal year 2014:
- Sales growth of approximately 4.8 percent
- Comparable store sales growth of approximately 4.6 percent
- Seven new stores
- Flat gross margin
- Operating margin expansion of approximately 70 basis points
- Tax rate of approximately 37 percent
- Share repurchases of approximately $5 billion
- Diluted earnings-per-share growth after anticipated share repurchases of approximately 16.5 percent to $4.38
- Capital spending of approximately $1.5 billion
- Depreciation and amortization of approximately $1.8 billion
- Cash flow from the business of approximately $8.8 billion
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