International News - Surge in Home Depot's sales and earnings

US titan Home Depot, the world's biggest DIY retailer, has increased its market share even further and reported bumper sales and profits.

Net earnings for the third quarter came to US$1.15 billion (£680 million), up from US$940 million (£557 million) in the comparable period last year.

Sales jumped by 14.7 per cent to US$16.6 billion (£9.83 billion), and like-for-like sales moved ahead by 7.8 per cent. The retailer is opening two new-style urban stores in Manhattan early next year.

Arch-rival Lowe's notched up a 33.3 per cent increase in third quarter profits to US$452 million (£267.6 million).