The Home Depot Updates Strategic Priorities; Confirms Fiscal Year 2013 Sales And Diluted Earnings Per Share Guidance; Provides

 The Home Depot Updates Strategic Priorities; Confirms Fiscal Year 2013 Sales
 And Diluted Earnings Per Share Guidance; Provides Fiscal Year 2014 Financial
                  Outlook And Updates 2015 Financial Targets

PR Newswire

ATLANTA, Dec. 11, 2013

ATLANTA, Dec. 11, 2013 /PRNewswire/ --The Home Depot^®, the world's largest
home improvement retailer, will outline today progress on its key strategic
priorities and discuss its financial targets at its 2013 Investor and Analyst
Conference.

(Logo: http://photos.prnewswire.com/prnh/20030502/HOMEDEPOTLOGO )

Today's conference will begin at 9 a.m. ET and will be available in its
entirety through a live webcast and replay at ir.homedepot.com in the Events &
Presentations section.

The Company will provide an update on its four areas of strategic focus,
specifically customer service, product authority, disciplined capital
allocation and interconnected retail, and will provide an update on its fiscal
year 2013 guidance and long-term financial targets as outlined below.

Fiscal Year 2013 Guidance

The Company reaffirmed its sales and diluted earnings-per-share guidance for
fiscal 2013. The Company expects sales to be up approximately 5.6 percent for
the year and diluted earnings-per- share to be up approximately 24 percent to
$3.72 for the year. Comparable store sales, on a 52-week like for like basis,
are expected to be up approximately 7.0 percent for the year. The Company's
fiscal 2013 sales and diluted earnings-per-share guidance is based on a
52-week year compared to fiscal 2012, a 53-week year.

Fiscal Year 2014 Financial Outlook

The Company provided the following financial targets for fiscal 2014 and
intends to provide sales and earnings guidance for fiscal year 2014 in
February:

  oSales growth of approximately 5 percent
  o8 new stores
  oOperating margin expansion of approximately 70 basis points
  oShare repurchases of approximately $5.0 billion
  oDiluted earnings-per-share growth after anticipated share repurchases of
    approximately 17 percent
  oCapital spending of approximately $1.5 billion

Long-Term Financial Targets

In June of 2012, the Company announced a long term operating margin target of
12 percent and a 24 percent return on invested capital target by the end of
fiscal 2015. The Company anticipates reaching these targets at the end of
fiscal 2014, one year earlier than planned, and has updated its fiscal 2015
financial targets as follows:

  oOperating margin of approximately 13 percent
  oReturn on invested capital of approximately 27 percent

"Thanks to the hard work and dedication of our associates, we expect to meet
the financial targets we set out in June of 2012 a year earlier than planned.
We have set out a challenging new goal for 2015 and plan to continue to build
on our company's foundation of customer service, product authority and value
creation," said Frank Blake, chairman & CEO.

At the end of the third quarter, the Company operated a total of 2,260 retail
stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin
Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2012, The Home
Depot had sales of $74.8 billion and earnings of $4.5 billion. The Company
employs more than 300,000 associates. The Home Depot's stock is traded on the
New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial
average and Standard & Poor's 500 index.

Certain statements contained herein constitute "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may relate to, among other things, the demand for
our products and services, net sales growth, comparable store sales, state of
the economy, state of the residential construction, housing and home
improvement markets, effects of competition, state of the credit markets,
including mortgages, home equity loans and consumer credit, inventory and
in-stock positions, commodity price inflation and deflation, implementation of
store and supply chain initiatives, continuation of share repurchase programs,
net earnings performance, earnings per share, capital allocation and
expenditures, liquidity, return on invested capital, management of
relationships with our suppliers and vendors, stock-based compensation
expense, the effect of accounting charges, the effect of adopting certain
accounting standards, the ability to issue debt on terms and at rates
acceptable to us, store openings and closures, expense leverage, guidance for
fiscal 2013 and beyond and financial outlook. Forward-looking statements are
based on currently available information and our current assumptions,
expectations and projections about future events. You should not rely on our
forward-looking statements. These statements are not guarantees of future
performance and are subject to future events, risks and uncertainties – many
of which are beyond our control or are currently unknown to us – as well as
potentially inaccurate assumptions that could cause actual results to differ
materially from our expectations and projections. These risks and
uncertainties include but are not limited to those described in Item 1A, "Risk
Factors," and elsewhere in our Annual Report on Form 10-K for our fiscal year
ended February 3, 2013 and in our subsequent Quarterly Reports on Form 10-Q.

Forward-looking statements speak only as of the date they are made, and we do
not undertake to update these statements other than as required by law. You
are advised, however, to review any further disclosures we make on related
subjects in our periodic filings with the Securities and Exchange Commission.

SOURCE The Home Depot

Website: http://www.homedepot.com
Contact: Financial Community: Diane Dayhoff , Vice President of Investor
Relations, 770-384-2666, diane_dayhoff@homedepot.com; News Media: Stephen
Holmes, Director of Corporate Communications, 770-384-5075,
stephen_holmes@homedepot.com
 
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