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May 22, 2013

Housing recovery boosts Home Depot profit 18%

  • The world's biggest home improvement chain also increased its outlook for the rest of the year.
    • By MAE ANDERSON
    AP Business Writers

    NEW YORK — Home Depot's first-quarter net income rose 18 percent, thanks to the ongoing housing recovery, despite a chilly and wet spring.

    Its quarterly results topped Wall Street expectations, and the world's biggest home improvement chain boosted its full-year earnings and revenue forecasts Tuesday.


     
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