Home Depot Announces Record Fourth Quarter and Fiscal Year 2004 Results


- Record Fiscal 2004 Net Earnings of $5 Billion

- Record Fiscal 2004 EPS of $2.26, up 20.2%

- Record Fiscal 2004 Sales of $73.1 Billion, up 12.8%

- Record Fiscal 2004 Operating Margin of 10.8%

- Fiscal 2004 Comparable Store Sales of 5.4%, Best Since Fiscal 1999


The Home Depot(R) HD, the world's largest home improvement retailer, today reported diluted earnings per share of $2.26, up 20.2 percent, on record net earnings of $5 billion for fiscal 2004, compared to diluted earnings per share of $1.88 on net earnings of $4.3 billion in fiscal 2003. Excluding the impact of EITF 02-16, earnings per diluted share for fiscal 2004 were $2.30, an increase of 22.3 percent. Sales for fiscal 2004 increased 12.8 percent over fiscal 2003 to $73.1 billion and comparable store sales grew by 5.4 percent.

Expanding the Market

In 2004, the company made several important moves to expand its market and global presence. The company opened a total of 15 new stores in Canada, bringing the total to 117, and increased its footprint significantly in Mexico to 44 stores through both organic growth and the acquisition of 20 Home Mart stores. The Home Depot is now the number one home improvement retailer in both Canada and Mexico. In 2004, the company announced its intention to enter the retail market in China and plans are underway.


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