Home Depot raises 2010 guidance; 10 new stores planned for 2011

New York City -- Home Depot on Wednesday slightly raised its fiscal 2010 earnings guidance for the second time in two months as the market for home-improvement projects slowly begins to improve. The retailer plans to open 10 stores in 2011, and has budgeted $1.3 billion in capital expenditures. and about $2.5 billion on share repurchases.

The retailer now expects net income from continuing operations to be $1.97 per share, up from prior guidance of $1.94 per share. Analysts polled by Thomson Reuters, on average, also predict $1.94 per share.

The company now expects revenue to rise 2.3% up from the 2.2% rise expected previously, implying revenue of $67.7 billion. Analysts expect revenue of $67.59 billion.

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