Home Depot, with four stores in Chester County, recently reported store sales for the fourth quarter of the fiscal year ending in 2013 increased by 4.4 percent.
Home Depot operates stores in West Sadsbury, Downingtown, Frazer and West Chester. The company also announced it will hire 80,000 new part-time sales and customer service associates nationwide in anticipation of increased sales during spring – which Home Depot says is its busiest season.
Nationwide sales for the fiscal year 2013 were $78.8 billion, an increase of 5.4 percent from the fiscal year 2012.
“In 2013, we posted our strongest comp sales growth in 14 years as solid execution and the recovering housing market aided our performance,” Frank Blake, chairman and chief executive officer said in a company news release.
“I’d like to thank our associates for their hard work and commitment to our customers.”
An employee of the West Sadsbury Home Depot reported the company did just that this week by calling a staff meeting, serving breakfast, and giving bonuses to employees with more than a year of service.
Home Depot also announced that its board of directors declared a 21 percent increase in its quarterly dividend to 47 cents per share, payable March 27. This is the 108th consecutive quarter in which Home Depot has paid a cash dividend.
“As a testament to our commitment to create value for our shareholders, the board increased the dividend for the fifth time in as many years,” said Blake. “Increasing the dividend reflects our continued strategy to target a dividend payout ratio of 50 percent.”
Home Depot also reported it opened seven new stores in 2013, increasing the company portfolio to 2,263 retail stores in all 50 states.
Check here for more information on Home Depot’s quarterly earning report.
(Above image of The Home Depot’s West Sadsbury’s store courtesy of Keystone Valley Fire Department)