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Stock Market & Financial Investment News

News Breaks
August 19, 2014
09:20 EDTHDHome Depot sees FY14 gross margin up 'a few' bps from FY13
Says housing market remains a modest tailwind for its business, cites "mixed signals" in housing data. Says sales plan "intact." Says online sales increased 38% in Q2. Says purchases above $900 rose 8.4% in Q2. Says will roll out hand-held checkout devices in Q3. Sees FY14 gross margin rate up "a few" basis points from FY13. Sees FY14 expenses approximately 23% of sales growth rate. Sees income tax rate approximately 37% for the year. Expects to repurchase $3.5B of stock for remainder of the year, sees total FY14 share repurchases of $7B. Comments made on the Q2 earnings conference call.
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