- Home Depot (HD +0.4%) presented today at meeting focused on Asian investors.
- The company says its long-term target is to raise operating margin by 140 bps to 13%.
- There was considerable discussion about the "stage 2" of the housing recovery underway in the U.S. The difference between a moderate recovery or a sharp one has big implications for the home improvement giant.
- Home Depot expects to gain more efficiency from supply chain changes and forecasting improvements.
- FY14 guidance is reiterated: Sales growth ~4.8%; Comp store growth ~4.6%, EPS $4.54; store openings +6.
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Home Depot's Asia Investors Meeting presentation (.pdf)