Home Depot Net Up 46% in ’90
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From Times Staff and Wire Reports
Home Depot, the Atlanta-based home improvement retail chain said fourth-quarter profit totaled $41.5 million, up 40% from the 1989 quarter, as sales rose 41% to a record $1.01 billion.
For fiscal 1990 ended Feb. 3, profit rose 46% to a record $163.4 million, on record sales of $3.8 billion, a 38% increase.
The company cited its expansion to 145 stores from 118 the previous year and a soft real estate market in which homeowners are making improvements rather than buying new homes.
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