Home Depot Sets Share Buyback

Home improvement retailer Home Depot Inc., under pressure as investors question its growth prospects, reaffirmed its long-term revenue and earnings goals and announced the repurchase of as much as $2 billion of its stock.

Shares of Atlanta-based Home Depot climbed 91 cents to $30 on the NYSE.

Home Depot also confirmed its longer-term guidance of 15% to 18% annual sales growth and 18% to 20% annual profit growth through fiscal 2004.