The Home Depot, the world's largest home improvement retailer, today reported sales of $16.0 billion for the fourth quarter of fiscal 2011, a 5.9 percent increase from the fourth quarter of fiscal 2010. Comparable store sales for the fourth quarter of fiscal 2011 were positive 5.7 percent, and comp sales for U.S. stores were positive 6.1 percent.

Net earnings for the fourth quarter were $774 million, or $0.50 per diluted share, compared with net earnings of $587 million, or $0.36 per diluted share, in the same period of fiscal 2010. For the fourth quarter of fiscal 2011, diluted earnings per share increased 38.9 percent from the prior year.

Fiscal 2011

Sales for fiscal 2011 were $70.4 billion, an increase of 3.5 percent from fiscal 2010. Total company comparable store sales for the year increased 3.4 percent, and comp sales for U.S. stores were positive 3.0 percent for the year.

Earnings per diluted share in fiscal 2011 were $2.47, compared to $2.01 per diluted share in fiscal 2010, an increase of 22.9 percent.

"We had a strong finish to 2011, and with favorable weather, our business delivered results that exceeded our expectations," said Frank Blake, chairman & CEO. "I'd like to thank our associates for their hard work and dedication."