ABJ - November 17 - The Home Depot, the world's largest home improvement retailer, has reported third quarter of fiscal 2011 net earnings of $934 million, or 60 cents a diluted share, compared with net earnings of $834 million, or 51 cents diluted share, in the same period of fiscal 2010. For the third quarter of fiscal 2011, diluted earnings per share increased 17.6 per cent from the prior year.

Sales for the third quarter totalled $17.3 billion, a 4.4 per cent increase from the third quarter of fiscal 2010. Comparable store sales for the third quarter of fiscal 2011 were 4.2 per cent, and comp sales for U.S. stores were positive 3.8 per cent.

"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 and CEO, The Home Depot. "We will continue to invest in our core initiatives to provide customers with exceptional customer service and great product values.

"As a reflection of our progress on the company's strategic initiatives, the board increased the dividend for the second time this year and has established new capital allocation targets in support of our commitment to create value for our shareholders.”