Home Depot raises stock repurchase program by $500 million

Home Depot Inc., the largest U.S. home-improvement retailer, raised its stock repurchase plan by $500 million for fiscal 2012, bringing the total to $4 billion.

The timing of the share repurchases will not have a material impact on the diluted earnings per share in that period, the Atlanta-based retailer said today in a statement.

Home Depot also said it aims for an operating margin of about 12 percent in fiscal 2015 and a return on invested capital of about 24 percent. The company repeated today it expects sales in fiscal 2012 to be up about 4.6 percent.

Home Depot rose 0.3 percent to $48.92 yesterday in New York. The shares have advanced 16 percent this year.

(Home Depot has scheduled a presentation for analysts at 9 a.m. New York time. Click HD US EVT to listen.)

--Editor: Thomas Mulier

To contact the reporter on this story: Celeste Perri in Amsterdam at cperribloomberg.net

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