Record Quarter for The Home Depot

Atlanta, The Home Depot posted third-quarter net income of $1.54 billion—a company record for a single quarter. The figure represents a 17% increase over $1.3 billion during the same period in 2004. Sales of $20.7 billion were up 10.5% from $18.7 billion in the third quarter a year ago. Comp-store sales grew 3.8%. “The execution of our strategy and the focus on our fundamentals has enabled us to consistently and predictably deliver strong results,” said Bob Nardelli, chairman, president and CEO. “We have stayed on strategy, effectively managed our business and produced solid earnings growth through the hard work and dedication of our 325,000 associates.”