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Mild winter contributes to strong quarter for Home Depot


Atlanta -- The Home Depot Inc.'s fiscal fourth-quarter earnings rose 32% to $774 million, compared with a profit of $587 million in the year-ago period. The retailer noted that mild weather throughout parts of the United States gave homeowners the chance to work on homes projects in the winter.

Sales rose 5.9% to $16.01 billion, topping the Street’s view of $15.51 billion. Same-store sales grew 5.7% overall, and 6.1% in the United States. The chain said it generated a 3.6% rise in fourth-quarter customer transactions and the average ticket increased 2.4% to $52.54.

We had a strong finish to 2011, and with favorable weather, our business delivered results that exceeded our expectations," CEO Frank Blake said in a statement.

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