"Our fourth-quarter results, including sales and earnings that exceeded our guidance, suggest the worst of the economic cycle is likely behind us," CEO Robert A. Niblock, says in a statement. "While the psychological impact of falling home prices and an uncertain employment picture continue to weigh on consumers, improving comparable store sales trends, including improvement in many bigger-ticket, project categories, provides an encouraging sign that consumers are gaining the confidence to take on more discretionary projects."
In the coming quarter, the company says it expects same-store sales to come in between negative 2% and flat, with a 1 to 3% gain for the full fiscal year.--Sarah
Mahoney
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