Home Depot announces a 15,000 million share repurchase program

DIY store chain Home Depot announced today that it will launch a $ 15 billion stock repurchase program.

The new plan was authorized by the board of directors before a conference with investors and analysts to discuss the long-term priorities and objectives of the company.

Home Depot said in a statement that from 2002 to date it has returned some 73 billion dollars to its shareholders through its stock repurchase program.

“The retail sector is changing at an unprecedented pace and we plan to invest in the future to meet the needs of our customers,” said CEO Craig Menear.

The company wants to accelerate its investments over the next three years to improve the customer experience, position itself for the future and create value for shareholders, according to its CEO.

Home Depot also took the opportunity to reaffirm its forecasts for the whole of its fiscal year 2017, with a rise in sales of 6.3% and a net profit per share of 7.36 dollars.

And regarding its long-term financial goals, said he expects its sales in fiscal year 2020 to be around 120,000 million dollars.

The company, which is based in Atlanta, currently operates almost 2,300 stores in the United States, Puerto Rico, Canada and Mexico and employs more than 400,000 people.

Shares of Home Depot, one of thirty stocks that are part of the Dow Jones, fell 1.75% today on the New York Stock Exchange, where they have appreciated almost 34% since January.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Former UN Secretary General Javier Pérez de Cuéllar dies at 100

Former United Nations Secretary General Javier Pérez de Cuéllar has died at his home on Wednesday night at 100, as reported by the Peruvian...

Jackson leaves the Knicks without being able to inoculate the success he had with Bulls and Lakers

Legendary coach Phil Jackson left the Knicks' home behind the New York franchise owner, James Dolan, who has been betting on his arrival three...

Florida teachers sue governor for pushing to reopen schools

The Florida Education Association, the largest teachers union in the US state, has sued Governor Ron DeSantis on Monday for pressure from his Administration...

The Tigers of the North honor Vicente Fernández, a “spoiled of God”

 Miami, .- The Tigers of the North return with "A consentido de Dios", song with which they pay a sincere tribute to the popular...

It looks like the Tokyo Olympics will happen, but in 2021, not 2020

TOKYO (AP) - The Tokyo Olympics are going to happen, but almost certainly in 2021 instead of four months as planned.   This became clear...