More big numbers from Home Depot

The world’s largest home improvement retailer raised its earnings expectations as it announced first quarter sales and earnings gains.

Sales increased 4.9% to $23.9 billion for the first quarter. Comparable store sales increased 5.5%, as comp-store sales for U.S. stores were up 6.0%.

“We were pleased with our results as they reflected broad-based growth across our interconnected platform and all geographies,” said Craig Menear, chairman, CEO and president.

Net earnings for the first quarter of fiscal 2017 were $2.0 billion, compared with net earnings of $1.8 billion, in the same quarter last year. For the first quarter of fiscal 2017, diluted earnings per share increased 16.0% from the same period in the prior year.

The company reaffirmed its fiscal 2017 sales growth guidance and expects sales will be up approximately 4.6%  and comp sales will be up approximately 4.6% for the year. Home Depot also raised its diluted earnings-per-share growth guidance for the year and now expects diluted earnings-per-share growth after anticipated share repurchases of approximately 11.0% from fiscal 2016 to $7.15.

The number of customer transactions, average ticket and sales per square foot all increased for the Atlanta-based retailer.

• Number of customer transactions: 380.8 million, up 1.6%;

• Average ticket: $62.39, up 3.9%; and

• Sales per square foot: $394.17, up 4.6%.

At the end of the first quarter, the company’s store count, including Canada and Mexico, stood at 2,281 — that’s three more stores than at the end of last year.