Flash: Bad earnings at Home Depot (HD)

Posted Nov 13th 2007 6:15AM by Douglas McIntyre
Filed under: Home Depot (HD)

Home Depot (NYSE: HD) reported fiscal 2007 third quarter consolidated net earnings of $1.1 billion, or 60 cents per diluted share, compared with $1.5 billion, or 73 cents per diluted share, in the same period in fiscal 2006.

The company said the poor earnings reflected negative comparable store sales of 6.2%, offset in part by sales from new stores.

And the forecast was not much better. The company said, "Given that the softness in the housing market is expected to continue for the rest of 2007 and the Company's commitment to invest in its key retail priorities, The Home Depot expects its earnings per share from continuing operations, on a 52-week basis, will decline by as much as 11 percent from last year."

Douglas A. McIntyre is an editor at 247wallst.com.

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Reader Comments (Page 1 of 1)

11-13-2007 @ 7:54AM

wini said...

Home Depot needs to hire customer service people. You can go in to buy something and wait 30 minutes for someone to help you. Then the person who helps is usually from another department and is overworked. They should close and let Ace or True Value come back, these stores offered service and knowlegable people with Home Depot prices.