Home Depot

Atlanta-based Home Depot reported first quarter earnings of $812 million, up 12% from earnings of $725 million in the first quarter last year.

Sales declined 0.2% to $16.8 billion, while comparable store sales were negative 0.6%. Comp-store sales for stores in the United States were negative 0.7%.

Atlanta -- Home Depot reported Tuesday that profit rose 12% in the first quarter, beating Wall Street estimates and causing the retailer to boost its outlook for the full year.

Home Depot earned $812 million in the quarter ended May 1, compared with $725 million in the year-ago period.

Revenue, however, slipped 0.2% to $16.82 billion on a weaker spring selling season, missing analysts’ expectations of $17.06 billion.

Same-store sales dipped 0.6%, with U.S. stores down 0.7%.

An increase promotional efforts in April contributed to Target’s 13.1% monthly same store sales gain, according to new data from the promotional intelligence firm Market Track.

Although revenues at Target last year increased 3.1% to nearly $67.4 billion, other big companies grew faster, and Target slipped three spots to 33rd from 30th in Fortune’s annual ranking of America’s 500 largest companies.

The 5% REDcard Rewards program Target launched last fall has contributed to sales results and served as a game changer on the pricing front with Walmart. Savvy shoppers are increasingly realizing the additional 5% savings they receive by using their REDcard can result in the price of a basket of food and consumables at Target slipping below the price of a comparable basket at Walmart.

ATLANTA -- The Home Depot Foundation announced that it has created a $1 million weather impact fund to aid relief, recovery and rebuilding efforts in response to the recent storms throughout the Southeast and Midwest United States, and in expectation of continuing violent storms throughout the spring season.

Atlanta -- The Home Depot Foundation announced that it has created a $1 million weather impact fund to aid relief, recovery and rebuilding efforts in response to the recent storms throughout the Southeast and Midwest United States, and in expectation of continuing violent storms throughout the spring season.

Atlanta -- The charitable arm of The Home Depot pledged $30 million over three years to address veterans' housing issues. The pledge starts with the donation of $3.1 million to Fisher House Foundation, The Mission Continues and Volunteers of America to repair and rehabilitate facilities and homes serving veterans.

Home Depot employees also will volunteer to help on projects for all three organizations.

Frisco, Texas -- The Commercial Retail Division of The Weitzman Group announced that Costco Wholesale Corp. will open a 148,000-sq.-ft. anchor store at Frisco Trails Shopping Center, located in Frisco, Texas.

Frisco Trails Shopping Center is being developed by Cencor Realty Services. The center currently features a Home Depot shadow anchor, and includes space for an additional anchor, as well as six available pad sites for freestanding retail and restaurant uses. Costco will also develop a fuel center on a pad site at Frisco Trails.