Atlanta, The Home Depot announced that it expects that fiscal 2005 sales will grow 9% to 12% and that earnings per share will grow 10% to 14%. Same-store sales for fiscal 2005 are expected to increase 4% to 7%. For fiscal 2004, the retailer expects to report earnings of $2.26 per share on sales of $72.9 billion. Same-store sales are expected to rise by about 5%.
At its annual meeting with investors, the company said it plans to add 175 new stores during 2005 and continue its investment in store modernization and technology through a $3.7 billion capital-spending plan. Same-store sales are expected to increase by 4% to 7%.
On the global front, Home Depot said it plans to add 19 stores in Canada and 10 stores in Mexico, and is positioned to enter the Chinese market in 2005.