HD is the New York Stock Exchange symbol for Home Depot, Inc. Founded by Bernie Marcus and Arthur Blank in 1978, Home Depot has stores, referred to as warehouses, in 19 states.
According a Home Deport spokesperson a typical Home Depot warehouse is 105,000 square feet -- more than twice the size of the average building and hardware supply store and stocks building materials, wall and floor coverings, paint, plumbing supplies, hardware, tools, electrical supplies, and supplies for landscaping and gardening.
Home Depot, Inc. ended the second quarter of 2009 with, it's financial statement disclosed "a total of 2,240 retail stores, which included 1,974 The Home Depot stores in the United States (including the Commonwealth of Puerto Rico, the territory of the U.S. Virgin Islands and the territory of Guam), 178 stores in Canada, 77 stores in Mexico and 11 stores in China (and) more than 300,000 associates.
Second quarter 2009 net earnings totaled $1.1 billion, or $0.66 per diluted share, compared with net earnings of $1.2 billion, or $0.71 per diluted share, in the same period in fiscal 2008.
According to Home Depot, "second quarter of 2009 results reflect a net impact to operating profit of $20 million related to the closing of the Company's EXPO businesses, previously announced on January 26, 2009. Excluding this impact, adjusted earnings per share were $0.67 for the quarter. The Company's fiscal 2009 second quarter net earnings reflect a tax benefit of approximately $50 million arising from a favorable foreign tax settlement. The tax benefit positively impacted earnings per share by approximately 3 cents."
Second quarter sales totaled $19.1 billion, a 9.1 percent decrease from the second quarter of fiscal 2008. Results of comparable store sales for Q2 2009 over Q2 2008 were equally dismal showing a decline of almost 9 percent.
"Concerns about the housing market, rising unemployment and softness in the overall economy continue to pressure consumers," said Frank Blake, Home Depot chairman & CEO. "Our business performed well in a down market, we captured market share and drove operating productivity. The combination made for a solid quarter relative to our plan.
"I want to thank our associates for their hard work in an incredibly tough environment. Their passion and focus on customer service are our strongest competitive advantage." added.