Exhibit 99.1

THE HOME DEPOT ANNOUNCES SECOND QUARTER RESULTS;

UPDATES FISCAL YEAR 2010 GUIDANCE

ATLANTA, August 17, 2010 — The Home Depot^®, the world’s largest home improvement retailer, today reported second quarter of fiscal 2010 net earnings of $1.2 billion, or $0.72 per diluted share, compared with net earnings of $1.1 billion, or $0.66 per diluted share, in the same period of fiscal 2009.

Sales for the second quarter totaled $19.4 billion, a 1.8 percent increase from the second quarter of fiscal 2009. Comparable store sales for the second quarter of fiscal 2010 were positive 1.7 percent, and comp sales for U.S. stores were positive 1.0 percent.

“Our second quarter sales reflect the third consecutive quarter of positive same store sales. We delivered solid results as we continue to build momentum with our merchandising transformation, supply chain enhancements and customer service initiatives,” said Frank Blake, chairman & CEO. “I want to thank our associates for their hard work and dedication, and I am proud to announce 97 percent of our stores qualified for success sharing, our bonus plan for hourly associates, for the first half of fiscal 2010.”

Updated Fiscal 2010 Guidance

Based on its year-to-date performance and expectations for the remainder of the fiscal year, the Company updated its fiscal 2010 guidance and now expects sales to be up approximately 2.6 percent for the year. The Company expects diluted earnings per share from continuing operations as reported to increase by approximately 22.6 percent to $1.90 for the year. This earnings per share guidance includes the benefit of the Company’s year-to-date share repurchases, but excludes the impact of future share repurchases.

The Home Depot will conduct a conference call today at 9 a.m. ET to discuss information included in this news release and related matters. The conference call will be available in its entirety through a webcast and replay at earnings.homedepot.com.

At the end of the second quarter, the Company operated a total of 2,244 retail stores, which included 1,976 The Home Depot stores in the United States (including the Commonwealth of Puerto Rico, the territory of the U.S. Virgin Islands and the territory of Guam), 179 stores in Canada, 80 stores in Mexico and 9 stores in China. The Company employs more than 300,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.

To provide clarity, internally and externally, about the Company’s operating performance for recently completed fiscal periods, the Company supplemented its reporting with non-GAAP financial measures to reflect the impact of the store rationalization charges, business rationalization charges, related restructuring charges and the charge related to the extension of the Company’s guarantee of a third party senior secured loan. The Company believes that these non-GAAP financial measures better enable management and investors to understand and analyze the Company’s performance by

providing them with meaningful information relevant to events of unusual nature or frequency. However, this supplemental information should not be considered in isolation or as a substitute for the related GAAP measures. A reconciliation of the non-GAAP financial measures to the corresponding GAAP measures can be found attached to this press release and at earnings.homedepot.com.

Certain statements contained herein constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to, among other things, the demand for our products and services, net sales growth, comparable store sales, state of the economy, state of the residential construction, housing and home improvement markets, state of the credit markets, including mortgages, home equity loans and consumer credit, commodity price inflation and deflation, implementation of store initiatives, continuation of reinvestment plans, net earnings performance, earnings per share, stock-based compensation expense, capital allocation and expenditures, liquidity, the effect of adopting certain accounting standards, return on invested capital, management of our purchasing or customer credit policies, the effect of accounting charges, the planned recapitalization of the Company, timing of the completion of the recapitalization, the ability to issue debt securities on terms and at rates acceptable to us, store openings and closures and financial outlook. Forward-looking statements are based on currently available information and our current assumptions, expectations and projections about future events. You are cautioned not to place undue reliance on our forward-looking statements. These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond our control or are currently unknown to us – as well as potentially inaccurate assumptions that could cause actual results to differ materially from our expectations and projections. These risks and uncertainties include but are not limited to those described in Item 1A, “Risk Factors,” and elsewhere in our Annual Report on Form 10-K for our fiscal year ended January 31, 2010, and in Part II, Item 1A, “Risk Factors” and elsewhere in our Quarterly Report on Form 10-Q for the fiscal quarter ended May 2, 1010.

Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law. You are advised, however, to review any further disclosures we make on related subjects in our periodic filings with the Securities and Exchange Commission.

For more information, contact:

Financial Community	News Media
Diane Dayhoff	Ron DeFeo
Vice President of Investor Relations	Senior Director of Corporate Communications
770-384-2666	770-384-3179
diane_dayhoff@homedepot.com	ron_defeo@homedepot.com

THE HOME DEPOT, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EARNINGS

FOR THE THREE MONTHS AND SIX MONTHS ENDED AUGUST 1, 2010 AND AUGUST 2, 2009

(Unaudited)

(Amounts in Millions Except Per Share Data and as Otherwise Noted)

	Three Months Ended						% Increase (Decrease)		Six Months Ended						% Increase (Decrease)
	8-1-10			8-2-09					8-1-10			8-2-09
NET SALES	$	19,410		$	19,071		1.8	%	$	36,273		$	35,246		2.9	%
Cost of Sales		12,828			12,683		1.1			23,897			23,408		2.1
GROSS PROFIT		6,582			6,388		3.0			12,376			11,838		4.5
Operating Expenses:
Selling, General and Administrative		4,127			4,121		0.1			8,205			8,163		0.5
Depreciation and Amortization		406			434		(6.5	)		817			862		(5.2	)
Total Operating Expenses		4,533			4,555		(0.5	)		9,022			9,025		—
OPERATING INCOME		2,049			1,833		11.8			3,354			2,813		19.2
Interest and Other (Income) Expense:
Interest and Investment Income		(3	)		(6	)	(50.0	)		(7	)		(11	)	(36.4	)
Interest Expense		151			167		(9.6	)		293			347		(15.6	)
Other		—			—		—			51			—		N/M
Interest and Other, net		148			161		(8.1	)		337			336		0.3
EARNINGS BEFORE PROVISION FOR INCOME TAXES		1,901			1,672		13.7			3,017			2,477		21.8
Provision for Income Taxes		709			556		27.5			1,100			847		29.9
NET EARNINGS	$	1,192		$	1,116		6.8	%	$	1,917		$	1,630		17.6	%
Weighted Average Common Shares		1,653			1,683		(1.8	)%		1,666			1,684		(1.1	)%
BASIC EARNINGS PER SHARE	$	0.72		$	0.66		9.1		$	1.15		$	0.97		18.6
Diluted Weighted Average Common Shares		1,663			1,691		(1.7	)%		1,676			1,690		(0.8	)%
DILUTED EARNINGS PER SHARE	$	0.72		$	0.66		9.1		$	1.14		$	0.96		18.8
SELECTED HIGHLIGHTS	Three Months Ended						% Increase (Decrease)		Six Months Ended						% Increase (Decrease)
	8-1-10			8-2-09					8-1-10			8-2-09
Number of Customer Transactions		369			362		1.9	%		692			672		3.0	%
Average Ticket (actual)	$	52.30		$	52.25		0.1		$	52.41		$	52.45		(0.1	)
Weighted Average Weekly Sales per Operating Store (in thousands)	$	662		$	650		1.8		$	621		$	600		3.5
Square Footage at End of Period		235			235		—			235			235		—
Capital Expenditures	$	240		$	181		32.6		$	407		$	353		15.3
Depreciation and Amortization (1)	$	428		$	458		(6.6	)%	$	866		$	911		(4.9	)%

(1) Includes depreciation of distribution centers and tool rental equipment included in Cost of Sales and amortization of deferred financing costs included in Interest Expense.

N/M - Not Meaningful

THE HOME DEPOT, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EARNINGS ITEMS EXCLUDING CERTAIN ADJUSTMENTS (NON-GAAP)

FOR THE THREE MONTHS AND SIX MONTHS ENDED AUGUST 1, 2010 AND AUGUST 2, 2009

(Unaudited)

(Amounts in Millions Except Per Share Data)

	Three Months Ended 8-1-10							Six Months Ended 8-1-10
	Actuals		Adjustment			As Adjusted (Non-GAAP)		Actuals		Adjustment(1)			As Adjusted (Non-GAAP)
Net Sales	$	19,410	$	—		$	19,410	$	36,273	$	—		$	36,273
Gross Profit		6,582		—			6,582		12,376		—			12,376
Total Operating Expenses		4,533		—			4,533		9,022		—			9,022
Operating Income		2,049		—			2,049		3,354		—			3,354
Interest and Other, net		148		—			148		337		51			286
Net Earnings	$	1,192	$	—		$	1,192	$	1,917	$	(33	)	$	1,950
Diluted Earnings Per Share	$	0.72	$	—		$	0.72	$	1.14	$	(0.02	)	$	1.16
	Three Months Ended 8-2-09							Six Months Ended 8-2-09
	Actuals		Adjustments(2)			As Adjusted (Non-GAAP)		Actuals		Adjustments(2)			As Adjusted (Non-GAAP)
Net Sales	$	19,071	$	—		$	19,071	$	35,246	$	221		$	35,025
Gross Profit		6,388		(1	)		6,389		11,838		28			11,810
Total Operating Expenses		4,555		19			4,536		9,025		165			8,860
Operating Income		1,833		(20	)		1,853		2,813		(137	)		2,950
Interest and Other, net		161		—			161		336		—			336
Net Earnings	$	1,116	$	(11	)	$	1,127	$	1,630	$	(84	)	$	1,714
Diluted Earnings Per Share	$	0.66	$	(0.01	)	$	0.67	$	0.96	$	(0.05	)	$	1.01

(1) Adjustment is comprised of a charge related to the extension of the Company's guarantee of a third-party senior secured loan.

(2) Adjustments are comprised of store rationalization charges related to the closing of 15 stores and the removal of 50 stores from our future growth pipeline, business rationalization charges related to the exit of EXPO, THD Design Center, Yardbirds and HD Bath businesses, as well as net sales, gross profit and operating expenses of those exited businesses during the period from closing announcement to actual closing, and charges related to restructuring of support functions.

THE HOME DEPOT, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

AS OF AUGUST 1, 2010, AUGUST 2, 2009 AND JANUARY 31, 2010

(Unaudited)

(Amounts in Millions)

	8-1-10		8-2-09		1-31-10
ASSETS
Cash and Cash Equivalents	$	2,395	$	3,107	$	1,421
Receivables, net		1,218		1,225		964
Merchandise Inventories		10,759		10,797		10,188
Other Current Assets		1,385		1,434		1,327
Total Current Assets		15,757		16,563		13,900
Property and Equipment, net		25,190		25,851		25,550
Goodwill		1,187		1,168		1,171
Other Assets		401		416		256
TOTAL ASSETS	$	42,535	$	43,998	$	40,877
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts Payable	$	5,919	$	6,018	$	4,863
Accrued Salaries and Related Expenses		1,226		1,159		1,263
Current Installments of Long-Term Debt		2,022		1,769		1,020
Other Current Liabilities		3,572		3,617		3,217
Total Current Liabilities		12,739		12,563		10,363
Long-Term Debt		7,727		9,661		8,662
Other Long-Term Liabilities		2,624		2,605		2,459
Total Liabilities		23,090		24,829		21,484
Total Stockholders’ Equity		19,445		19,169		19,393
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	42,535	$	43,998	$	40,877

THE HOME DEPOT, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED AUGUST 1, 2010 AND AUGUST 2, 2009

(Unaudited)

(Amounts in Millions)

	Six Months Ended
	8-1-10			8-2-09
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Earnings	$	1,917		$	1,630
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities:
Depreciation and Amortization		866			911
Stock-Based Compensation Expense		112			109
Changes in Working Capital and Other		468			678
Net Cash Provided by Operating Activities		3,363			3,328
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures		(407	)		(353	)
Other		44			139
Net Cash Used in Investing Activities		(363	)		(214	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchases of Common Stock		(1,209	)		—
Cash Dividends Paid to Stockholders		(793	)		(762	)
Other		(28	)		233
Net Cash Used in Financing Activities		(2,030	)		(529	)
Increase in Cash and Cash Equivalents		970			2,585
Effect of Exchange Rate Changes on Cash and Cash Equivalents		4			3
Cash and Cash Equivalents at the Beginning of the Period		1,421			519
Cash and Cash Equivalents at the End of the Period	$	2,395		$	3,107