Home Depot 2001 Annual Report Download - page 21

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF
RESULTS OF OPERATIONS AND FINANCIAL CONDITION
19The Home Depot, Inc. and Subsidiaries
SELECTED CONSOLIDATED STATEMENTS OF EARNINGS DATA
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.
Percentage
Increase (Decrease)
Fiscal Year(1) In Dollar Amounts
2001 2000 1999 2001 vs. 2000 2000 vs. 1999
NET SALES 100.0% 100.0% 100.0% 17.1% 19.0%
Gross Profit 30.2 29.9 29.7 18.0 19.9
Operating Expenses:
Selling and Store Operating 19.0 18.6 17.8 19.4 24.8
Pre-Opening 0.2 0.3 0.3 (17.6) 25.7
General and Administrative 1.7 1.8 1.7 12.0 24.4
Total Operating Expenses 20.9 20.7 19.8 18.2 24.8
OPERATING INCOME 9.3 9.2 9.9 17.7 10.1
Interest Income (Expense):
Interest and Investment Income 0.1 0.1 0.1 12.8 27.0
Interest Expense (0.1) (0.1) (0.1) 33.3 (48.8)
Interest, net –––(3.8) 750.0
EARNINGS BEFORE INCOME TAXES 9.3 9.2 9.9 17.5 10.9
Income Taxes 3.6 3.6 3.9 16.9 10.2
NET EARNINGS 5.7% 5.6% 6.0% 17.9% 11.3%
SELECTED SALES DATA(2)
Number of Transactions (000s) 1,090,975 936,519 797,229 16.5% 17.5%
Average Sale per Transaction $ 48.64 $ 48.65 $ 47.87 –1.6
Weighted Average Weekly Sales per Operating Store $ 812,000 $ 864,000 $ 876,000 (6.0) (1.4)
Weighted Average Sales per Square Foot(3) $ 387.93 $ 414.68 $ 422.53 (6.5) (1.9)
(1) Fiscal years 2001, 2000 and 1999 refer to the fiscal years ended February 3, 2002; January 28, 2001; and January 30, 2000, respectively.
(2) Excludes Apex Supply Company, Georgia Lighting, Maintenance Warehouse,Your “other”Warehouse and National Blinds and Wallpaper.
(3) Adjusted to reflect the first 52 weeks of the 53-week fiscal year in 2001.