Home Depot 1999 Annual Report Download - page 22

Management’s Discussion and Analysis of Results of Operations and Financial Condition
The Home Depot, Inc. and Subsidiaries
The data below reflect selected sales data, the percentage relationship between sales and major categories in the Consolidated Statements of
Earnings and the percentage change in the dollar amounts of each of the items.
Selected Consolidated Statements of Earnings Data
Percentage
Increase (Decrease)
Fiscal Year (1) in Dollar Amounts
1999 vs. 1998 vs.
1999 1998 1997 1998 1997
Net Sales 100.0% 100.0% 100.0% 27.2% 25.1%
Gross Profit 29.7 28.5 28.1 32.6 26.9
Operating Expenses:
Selling and Store Operating(2) 17.8 17.7 17.8 27.9 24.1
Pre-Opening 0.3 0.3 0.3 28.4 35.4
General and Administrative 1.7 1.7 1.7 30.3 24.7
Non-Recurring Charge ––0.4NM(3) NM(3)
Total Operating Expenses 19.8 19.7 20.2 28.1 21.7
Operating Income 9.9 8.8 7.9 42.6 40.3
Interest Income (Expense):
Interest and Investment Income 0.1 0.1 0.2 23.3 (31.8)
Interest Expense (0.1) (0.1) (0.2) (24.3) (11.9)
Interest, net –––(228.6) (450.0)
Earnings Before Income Taxes 9.9 8.8 7.9 43.3 39.8
Income Taxes 3.9 3.5 3.1 42.7 40.9
Net Earnings 6.0% 5.3% 4.8% 43.7% 39.1%
Selected Sales Data
(4)
Number of Transactions (000s) 797,229 665,125 550,226 19.9% 20.9%
Average Sale per Transaction $ 47.87 $ 45.05 $ 43.63 6.3 3.3
Weighted Average Weekly Sales per Operating Store $ 876,000 $ 844,000 $ 829,000 3.8 1.8
Weighted Average Sales per Square Foot $ 422.53 $ 409.79 $ 405.56 3.1 1.0
(1) Fiscal years 1999, 1998 and 1997 refer to the fiscal years ended January 30, 2000; January 31, 1999; and February 1, 1998, respectively.
(2) Minority interest has been reclassified to selling and store operating expenses.
(3) Not meaningful.
(4) Excludes wholly-owned subsidiaries: Apex Supply Company, Georgia Lighting, Maintenance Warehouse, and National Blinds and Wallpaper.
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