Home Depot raises full-year earnings expectations

[June 10, 2009]  ATLANTA, Ga. (AP) -- Home Depot, the nation's largest home improvement retailer, anticipates its full-year earnings may now come in better than previously forecast.

The move comes a few weeks after smaller rival Lowe's Cos. raised its full-year outlook.

Atlanta-based Home Depot Inc. said Wednesday it now sees earnings per share from continuing operations to be flat to down 7 percent. Prior guidance called for a 7 percent decline.

It says it also expects adjusted earnings per share to be down 20 percent to 26 percent. Home Depot's previous outlook was for a 26 percent decline.

The retailer maintained its outlook for an approximately 9 percent sales decline.

Analysts had expected a full-year profit of $1.40 per share on sales of $65.27 billion.

[Associated Press]

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