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Home improvement chain reports solid rise in earnings

Tuesday, Feb. 22, 2005 | 9:25 a.m.

ATLANTA -- The Home Depot Inc., the nation's largest home improvement chain, reported a nearly 10 percent jump in fourth-quarter earnings on solid sales, particularly at stores open at least a year.

The Atlanta-based company's results, announced before the market opened today, met Wall Street expectations.

Home Depot shares fell 67 cents, or 1.6 percent, to $41.35 in early trading on the New York Stock Exchange, as the overall market declined broadly.

For the three months ending Jan. 30, Home Depot said it earned $1.04 billion, or 47 cents a share, compared to a profit of $951 million, or 42 cents a share, in the same period a year ago.

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