Atlanta, GA-based The Home Depot, home improvement retailer, reported sales in the first quarter 2008 were $17.9 billion, a 3.4% decrease from the prior-year period, reflecting negative comparable store sales of 6.5%.
The housing and home improvement markets remained difficult in the first quarter; in fact, conditions worsened in many areas of the country,” CEO Frank Blake said.
Profit was $356 million, compared with $1 billion last year.
These results reflect a nonrecurring charge of $543 million due to the recently announced closing of 15 stores and removal of 50 stores from the future growth pipeline. Excluding this nonrecurring charge, the company reported profit of $697 …
The Home Depot Sales Fall 3.4% in 1Q
Atlanta, GA-based The Home Depot, home improvement retailer, reported sales in the first quarter 2008 were $17.9 billion, a 3.4% decrease from the prior-year period, reflecting negative comparable store sales of 6.5%.
The housing and home improvement markets remained difficult in the first quarter; in fact, conditions worsened in many areas of the country,” CEO Frank Blake said.
Profit was $356 million, compared with $1 billion last year.
These results reflect a nonrecurring charge of $543 million due to the recently announced closing of 15 stores and removal of 50 stores from the future growth pipeline. Excluding this nonrecurring charge, the company reported profit of $697 …
Share this article
- Filed In: Free, News, Subscriber Only
About the Author
Recommended Reading
Leave a Reply
Log In
Read the latest articles and see your reports.
Popular Now
MDM Directories
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.
