December 6, 2017 / 11:12 AM / 12 days ago

BRIEF-Home Depot Updates Strategic Priorities, Confirms 2017 Sales And Earnings Guidance

Dec 6 (Reuters) - Home Depot Inc:

* THE HOME DEPOT UPDATES STRATEGIC PRIORITIES; CONFIRMS FISCAL YEAR 2017 SALES AND DILUTED EARNINGS-PER-SHARE GUIDANCE; OUTLINES LONG-TERM FINANCIAL TARGETS; ANNOUNCES ACCELERATED BUSINESS INVESTMENT PLAN AND $15 BILLION SHARE REPURCHASE AUTHORIZATION

* SEES FY 2017 EARNINGS PER SHARE $7.36

* SEES FY 2017 SALES UP ABOUT 6.3 PERCENT

* THE HOME DEPOT UPDATES STRATEGIC PRIORITIES; CONFIRMS FISCAL YEAR 2017 SALES AND DILUTED EARNINGS-PER-SHARE GUIDANCE; OUTLINES LONG-TERM FINANCIAL TARGETS; ANNOUNCES ACCELERATED BUSINESS INVESTMENT PLAN AND $15 BILLION SHARE REPURCHASE AUTHORIZATION

* SEES FY 2017 COMPARABLE STORE SALES OF APPROXIMATELY 6.5 PERCENT

* - FOR FISCAL 2020 , SEES ANNUAL CAPITAL SPENDING OF APPROXIMATELY 2.5 PERCENT OF SALES

* SEES 2020 FINANCIAL TARGET OF ‍TOTAL SALES RANGING FROM APPROXIMATELY $114.7 BILLION TO APPROXIMATELY $119.8 BILLION​‍​

* SEES LONG-TERM, FISCAL 2020 RETURN ON INVESTED CAPITAL RANGING FROM APPROXIMATELY 36.4 PERCENT TO 39.6 PERCENT

* SEES LONG-TERM, FISCAL 2020 OPERATING MARGIN RANGING FROM APPROXIMATELY 14.4 PERCENT TO 15.0 PERCENT

* HOME DEPOT SEES LONG-TERM FISCAL 2020 TARGET OF COMPOUNDED ANNUAL SALES GROWTH RATE FROM END OF FISCAL 2017 RANGING FROM ABOUT 4.5 PERCENT TO ABOUT 6.0 PERCENT

* - ‍DILUTED EPS GUIDANCE FOR 2017 INCLUDES BENEFIT OF CO‘S INTENT TO REPURCHASE ADDITIONAL $2.1 BILLION OF SHARES IN Q4​ Source text for Eikon: Further company coverage:

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