Home Depot Inc Raises FY 2012 Guidance

Home Depot Inc updated fiscal 2012 guidance and raised its sales growth guidance to be up approximately 5.2% for the year on a 53-week basis. The Company expects fiscal 2012 diluted earnings per share to be up approximately 18% to $2.92 for the year. On an adjusted basis, the Company raised its diluted earnings per share growth guidance to be up approximately 23% to $3.03 excluding the $0.11 per diluted share impact related to the closing of seven stores in China. The Company reported revenue of $70.395 billion in fiscal 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $73.799 billion and EPS of $2.97 for fiscal 2012.