The Home Depot generated $1.48 billion in income from $21.36 billion in sales during first quarter 2006, up from income of $1.25 billion and sales of $18.97 billion a year earlier. The quarter ended April 30.
During the quarter, the Atlanta-based do-it-yourself home repair chain acquired Hughes Supply. Hughes Supply’s sales figures were included in Home Depot’s results as of March 30.
Immediately after the quarter ended, Home Depot acquired Home Decorators Collection, a catalog and online marketer of home décor merchandise. The unit was incorporated into Home Depot Direct, the company’s direct-to-consumer arm. According to the company, the addition of Home Decorators Collection will make Home Depot Direct a $1 billion business by the end of fiscal 2006.
