The Home Depot, Atlanta, GA, reported a net loss of $54 million for the fourth quarter ended Feb. 1, 2009, compared with net earnings of $671 million, in the same period in fiscal 2007. Sales for the fourth quarter totaled $14.6 billion, a 17.3% decrease from the fourth quarter of fiscal 2007.
Fourth quarter results reflect a pre-tax business rationalization charge of $387 million, taken to exit its EXPO, THD Design Center, YardBIRDS and HD Bath businesses and reduce support staff functions. Results were also impacted by a pre-tax write-down of the Company’s investment in HD Supply of $163 million, as well as a loss from discontinued operations of $52 million.
Sales for fiscal 2008 were $71.3 billion, 7.8% below fiscal 2007. Profit decreased 47.7% to $2.3 …
The Home Depot Reports $54 Million Loss For 4Q
The Home Depot, Atlanta, GA, reported a net loss of $54 million for the fourth quarter ended Feb. 1, 2009, compared with net earnings of $671 million, in the same period in fiscal 2007. Sales for the fourth quarter totaled $14.6 billion, a 17.3% decrease from the fourth quarter of fiscal 2007.
Fourth quarter results reflect a pre-tax business rationalization charge of $387 million, taken to exit its EXPO, THD Design Center, YardBIRDS and HD Bath businesses and reduce support staff functions. Results were also impacted by a pre-tax write-down of the Company’s investment in HD Supply of $163 million, as well as a loss from discontinued operations of $52 million.
Sales for fiscal 2008 were $71.3 billion, 7.8% below fiscal 2007. Profit decreased 47.7% to $2.3 …
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