the visible hand

it is the theory which decides what can be observed – einstein

Home Depot’s Net Falls 66%

Posted by ecoshift on May 20, 2008

Home Depot’s Net Falls 66% As Homeowners Cut Projects – WSJ.com
By MARY ELLEN LLOYD
May 20, 2008 9:10 a.m.

A tough business environment and Home Depot Inc.’s moves to close underperforming stores and pull back on expansion led to a 66% drop in fiscal first-quarter net income for the home improvement giant.

Economic conditions that have kept homeowners from taking on major renovations and repairs continued in the first quarter, Chairman and Chief Executive Frank Blake said Tuesday. “In fact, conditions worsened in many areas of the country.”

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