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Home Depot lifts some financial targets

  • Home Depot (HD) issues a business update and highlights some strategic priorities.
  • The company reaffirms 2013 sales and EPS guidance as it sees comparable store sales growth of 7% for the year.
  • Financial targets for 2014 include sales growth of 5%, operating margin expansion of 70 bps, and EPS growth of 17%. Only 8 new stores are expected to be added to Home Depot's store count during the period.
  • In 2015, operating margin of 13% is set as a target with the home improvement retailer on a pace to exceed its previous target early.
  • HD +0.1% premarket
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