The Real Deal Miami

Home Depot ups income projections for 2010

December 08, 2010 01:50PM

Home Depot is reaping the benefits of Americans’ increasing willingness to invest in home improvement projects. The retailer, which reported stronger-than-expected sales last month, upped its predicted earnings today for the second time in two months, the Associated Press reported. The company now pegs its expected income for fiscal 2010 to be $1.97 per share, up from its previous estimate of $1.94 per share. Revenue, it said, will rise 2.3 percent to $67.7 billion, not the 2.2 percent previously reported. Next year, when Home Depot plans to open 10 additional stores, revenue is expected to rise between 2 and 2.5 percent, the company said. [AP via NYDN]