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Home Depot's 2Q profits set company record

ATLANTA — Home Depot, the world’s largest home improvement retailer, on Tuesday announced sales of $28.1 billion for the second quarter of its fiscal year.

That was up 6.2 percent from the same quarter a year ago.

Home Depot profit for the quarter was $2.7 billion, up from the net earnings of $2.4 billion a year earlier. This past quarter’s profits come out to $2.25 per share, up from $1.97 a share a year earlier.

It is the highest quarterly profit the Atlanta-based company has ever reported, said Craig Menear, chairman, CEO and president.

During the quarter, comparable store sales were in line with the overall results, up 6.3 percent. The company’s American stores did slightly better than the corporate average, rising 6.6 percent.

“We were pleased with our results this quarter,” said Menear, in a statement that praised both employees and corporate partners.

However, Home Depot stock tumbled, losing 2.7 percent and closing at $150.17.

The company currently has about 400,000 employees working in nearly 2,000 stores in the United States, in addition to 75 distribution facilities.

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