Home Depot to close Expo, axe 7,000

Atlanta – Home improvement titan The Home Depot is ending its 18-year experiment in the upscale merchandising segment, closing EXPO as part of a $532 million corporate cutback.

Investors, apparently glad to see Home Depot take its medicine, sent the share price up nearly 5% today in heavy trading.

Besides shutting down the 34 EXPO Design Center stores, HD will eliminate five YardBIRDS stores, two Design Center stores and its seven-unit HD Bath chain. Along with cuts to various support and management staff, the total reduction is about 7,000 associates, or some 2% of the 300,000 Home Depot workforce, the company said.

The $77 billion, 2,274-unit retailer said it will reduce capital expenditure to about $1 billion in the coming fiscal year and will open 12 stores.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!