Home Depot Reports 3Q Increased Earning Nov 16, 2011

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Home improvement retail giant Home Depot reported third quarter 2011 net earnings of $934 million, up from $834 million in 3Q 2010. Sales for the third quarter were $17.3 billion, a 4.4% increase from 3Q 2010. Comparable store sales in the 3Q were up 4.2%, and comps for U.S. stores were up 3.8%.

"Our third quarter was driven by strength in our core categories and storm-related sales as well as strong operating performance," said Frank Blake, chairman & CEO.

Home Depot confirmed that it expects fiscal 2011 sales to be up about 2.5% from fiscal 2010.

At the end of the quarter Home Depot had 2,246 retail stores in all 50 United States, District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces, Mexico, and China.

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