Home Depot beats Street in fourth quarter, approves US$17 bil. buyback


ATLANTA — Home Depot Inc., the largest U.S. home improvement retailer, said Tuesday its fiscal fourth-quarter net income surged 32 percent, beating expectations, helped by strong U.S. sales and the cleanup related to Superstorm Sandy.

The retailer also said Tuesday that it will buy back US$17 billion of its common stock and boosted its quarterly dividend by 34 percent.