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