Home Depot profit off 66%
May 20, 2008,
Atlanta – A $543 million charge sent Home Depot’s first-quarter net income plummeting by 66% to $356 million, or 21 cents per share.
Sales for the quarter ended May 4 fell 3.4% to $17.91 billion, with comps down 6.5%.
“The housing and home improvement markets remained difficult in the first quarter; in fact, conditions worsened in many areas of the country,” said ceo Frank Blake.
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