The Home Depot, the world’s largest home-improvement retailer, posted $16 billion for the fourth quarter of 2011, a 5.9-percent increase compared to the fourth quarter of 2011. Net earnings for the quarter were $774 million, compared with net earnings of $587 million for the same period in fiscal 2010, a 31.8-percent leap.
Sales for fiscal 2011 were $70.4 billion, an increase of 3.5 percent compared with fiscal 2010. Total company comparable store sales for the year increased 3.4 percent.
“We had a strong finish to 2011, and with favorable weather, our business delivered results that exceeded our expectations,” said chairman and CEO Frank Blake.
The company expects about a 4-percent sales growth in 2012. The company expects to open about 11 new stores in fiscal 2012.
Many of Home Depot’s retail stores feature tool rental departments, and RER estimates its 2010 rental revenue at about $525 million, ranking it No. 5 on the RER 100.