HD Raises Full Year Sales Guidance

According to Citigroup, “Home Depot Inc HD reported 2Q10 EPS of $0.72, above our $0.69 estimate, above consensus of $0.71, and vs. adjusted EPS of $0.64 last year. The company reported better-than-expected SSS, strong gross margin expansion, and impressive expense control. While the company moderated its full-year sales guidance by (-90) bps to +2.6%, it also slightly raised its 2010 guidance to $1.90 (or $1.92 excl. a (-$0.02) one-time charge in 1Q10), vs. $1.88 previously (or $1.90 previously excluding the charge).” “HD repurchased approx. $700M worth of shares in 2Q10…. Inventories declined ( 0.4)% YOY vs. a total sales increase of +1.8% in 2Q10,” the analysts add. More Analyst Ratings here