Home Depot Raises View; Sales Up But China A Problem |
| Wall Street Journal - Dec 8, 2010 |
Strong November sales that continued this month helped Home Depot Inc. (HD) boost its fiscal-year earnings forecast yet again on Wednesday.
Home Depot Chief Financial Officer Carol Tome in an interview called November sales "terrific," and said shoppers spent money across all product categories, including holiday items. Home Depot was "very pleased" with its Black Friday and Cyber Monday sales, though Tome noted those post-Thanksgiving sales days are not as important for Home Depot as they are for other retailers whose fates are more closely tied to those days.
At the company's annual conference for analysts and investors in Boston Wednesday morning, Chairman and Chief Executive Frank Blake said its non-U.S. business was showing mixed results. While its business in Mexico is a source of strength, its business in China remains "problematic," and the company is working to build a profitable business model through a focus on "select" Chinese cities.
Read Full Article from Wall Street Journal
- Posted: 2010-12-08 10:19:37
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