follow us

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.

Featured Video

  • Online Moves From Afterthought To Main Thought For Textiles Suppliers

    Camera Icon More Videos

Other Home Furnishings Sites

Casual Living
Gifts and Decorative Accessories
Home Accents Today
Kids Today
Furniture Today