<p>The Home Depot cited its best quarterly advance in same-store sales in four years as it reported a 22 percent jump in third-quarter earnings, handily beating Wall Street expectations. The company also raised its full-year earnings per share growth guidance.</p><p>The nations largest home improvement store chain said Tuesday it earned $1.15 billion, or 50 cents a share, for the three months ending Nov. 2, compared to a profit of $940 million, or 40 cents a share, for the same period a year ago.</p><p>Analysts surveyed by Thomson First Call were expecting earnings of 46 cents a share.</p><p>Revenue in the quarter was $16.6 billion, a 14.7 percent jump from the $14.48 billion the Atlanta-based company recorded a year ago.</p><p>Same-store sales _ a measure that compares sales at stores open at least a year _ increased 7.8 percent in Home Depots best quarterly comparable sales performance since the fourth quarter of 1999. Same-store sales are considered a good indicator of retail health.</p><p>Our customers are experiencing a better shopping environment as a result of the significant progress we are making in every area of our business, chief executive Bob Nardelli said. Our continued focus on sales, service and execution is resulting in innovative and distinctive product selection, compelling values, and knowledgeable store associates.</p><p>Shares of Home Depot rose $1.01, or 2.9 percent, to $36.48 in early trading Tuesday on the New York Stock Exchange.</p><p>In the last several months the company has pumped millions of dollars into renovating its stores to give them a softer look, something rival Lowes has benefited from. Home Depot stores are brighter, aisles are cleaner and more employees are helping customers on the floor. Hundreds of self-checkout terminals have been added to make the purchase process swifter. Lowes, the nations No. 2 home improvement store chain, reported on Monday a profit of $452 million in the third quarter, a 33 percent jump from a year ago. It cited a robust 12.4 percent gain in same-store sales.</p><p>In a conference call with analysts, Nardelli said Home Depots stores in competitive markets _ including Charlotte, N.C., Indianapolis and Washington _ performed particularly well in the quarter.</p><p>Chief marketing officer John Costello said Home Depots brand presence, its You can do it, we can help advertising campaign and its do-it-yourself clinics are helping drive company growth.</p><p>Home Depot said that in the quarter its average sales ticket grew 4.9 percent to $52.10 compared to a year ago, the highest average ticket in the companys history. It cited increased sales of lumber, appliances, outdoor power equipment and building materials.</p><p>For the first nine months of the year, Home Depot said it earned $3.35 billion, or $1.46 a share, compared to earnings of $2.98 billion, or $1.26 a share, for the same period a year ago. Nine-month revenue was $49.69 billion, compared to $45.03 billion in 2002.</p><p>Home Depot reiterated its annual sales growth guidance of 9 percent to 12 percent and raised its full year earnings per share growth guidance to 15 percent to 17 percent. It had earlier projected full-year earnings per share growth to be 9 percent to 14 percent.</p><p>Home Depot operates 1,643 stores in the United States, Canada and Mexico. The company has about 300,000 employees. It will have increased its employee rolls by 40,000 by the end of the year.</p><p>___</p><p>On the Net:</p><p>HASH(0x28647d8)</p>
