May 16 Home Depot Inc, the No. 1 U.S. home improvement chain, reported a 12 percent rise in quarterly profit on Tuesday, helped by higher customer traffic and more average spending at its stores amid a strong housing market.
Net income rose to $2.01 billion, or $1.67 per share, in the first quarter ended April 30, from $1.80 billion, or $1.44 per share, a year earlier.
Net sales rose 5 percent to $23.89 billion.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Martina D'Couto)
Forestar to sell majority stake in company to D.R. Horton
June 29 Forestar Group Inc said on Thursday it had agreed to sell a 75 percent stake in the company to U.S. homebuilder D.R. Horton Inc and scrapped its merger agreement with investment firm Starwood Capital Group.