Home Depot's profit rises 14.5%

[CHICAGO] Home Depot Inc, the world's largest home improvement chain by sales, reported a 14.5 per cent rise in quarterly profit as customers in North America spent more on home repairs after a harsher-than-usual winter.

Home Depot's total comparable sales rose 6.1 per cent in the first quarter ended May 3.

The company's net income rose to US$1.58 billion, or US$1.21 per share, from US$1.38 billion, or US$1.00 per share, a year earlier.

Net sales rose to US$20.89 billion from US$19.69 billion.

REUTERS