Atlanta, GA-based The Home Depot, a home improvement retailer, reported sales of $21 billion for the second quarter of 2008, a 5.4% decrease from the same period 2007. Profit was $1.2 billion, down 25% from second quarter 2007.
For the first six months, sales were down 4.5% to $40.7 billion as compared to the first half of 2007. Profit was $2.6 billion, a decrease of 40% from the prior year.
The company’s fiscal 2007 contained 53 weeks of operations, which shifted the company’s 2008 fiscal calendar. Because of this shift, and given the seasonal nature of its business, second quarter sales, on a like for like calendar basis, were negatively impacted by $160 million.
At the end of the second quarter, Home Depot operated a total of 2,257 retail …
Home Depot Sales Down 5.4% in 2Q
Atlanta, GA-based The Home Depot, a home improvement retailer, reported sales of $21 billion for the second quarter of 2008, a 5.4% decrease from the same period 2007. Profit was $1.2 billion, down 25% from second quarter 2007.
For the first six months, sales were down 4.5% to $40.7 billion as compared to the first half of 2007. Profit was $2.6 billion, a decrease of 40% from the prior year.
The company’s fiscal 2007 contained 53 weeks of operations, which shifted the company’s 2008 fiscal calendar. Because of this shift, and given the seasonal nature of its business, second quarter sales, on a like for like calendar basis, were negatively impacted by $160 million.
At the end of the second quarter, Home Depot operated a total of 2,257 retail …
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