Home Wealth  Money Home Depot Beats, Boosts; Staples Meets, Lowers

Home Depot Beats, Boosts; Staples Meets, Lowers

Posted: Nov. 16th, 2011  |  By Forbes

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The largest home improvement retailer in the nation, Home Depot posted third quarter earnings today that rose to $934 million, or $0.60 per share, from $834 million, or $0.51 per share, last year.

Revenue rose about 4%, to $17.3 billion, on a 4.2% increase in same-store sales. Results were ahead of analyst estimates.

Home Depot (nyse: HD - news - people ) hiked its full year earnings forecast as well, to earnings of $2.38 per share, from a prior forecast of $2.34.

Home Depot also declared a quarterly dividend of $0.29 per share, up 16% from its previous dividend.

Also today, the top office supplies retailer in the nation, Staples (nasdaq: SPLS - news - people ) reported fiscal third quarter earnings rose to $326.4 million, or $0.47 per share, from $288.7 million, or $0.40 per share, last year.

Sales ticked higher, to $6.57 billion from $6.54 billion last year.

Earnings per share met analyst expectations, while revenue fell short.

Staples lowered its full-year forecast, to $1.38 to $1.42 per share, from a prior outlook of $1.42 to $1.48 per share.

Smaller rival OfficeMax (nyse: OMX - news - people ) already reported quarterly earnings while Office Depot (nyse: ODP - news - people ) posted earning earlier in the season.

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