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Company sales see improvement, while U.S. sales still down
The Home Depot (Atlanta) reported total company same-store sales for the fourth quarter of fiscal 2009 rose 1.2 percent, the first increase since 2006, reports The Wall Street Journal. In the U.S., comparable store sales dropped 1.1 percent.
Total sales for the quarter were down 0.3 percent to $14.6 billion.
For the fiscal 2009 year, the world's largest home improvement retailer reported sales were $66.2 billion, a decline of 7.2 percent compared to a year earlier. Total company comparable store sales for the year declined 6.6 percent, and comps for U.S. stores were negative 6.2 percent for the year.
"Despite the tough economic environment, we were able to make solid progress against our key initiatives in 2009," says Frank Blake, chairman and ceo. "For the year, we grew U.S. share by more than 100 basis points, we continued to restructure our distribution network, with our Rapid Deployment Centers, and we enhanced overall customer service as measured by third party surveys.”
In the fourth quarter, the company says gains in kitchen and bath, paint, flooring and plumbing drove sales. Its international businesses also performed well.
For fiscal 2010, the company expects sales growth of 2.5 percent, with same-store sales rising 2.5 percent. The retailer, which operates 2244 stores, plans to add six locations in fiscal 2010.
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