Home improvement retailer The Home Depot (NYSE: HD), Atlanta, GA, reported sales for the third quarter were $16.4 billion, an decrease of 8% from a year ago. Profit declined 8.9% to $689 million.
Comparable store sales for the third quarter decreased 6.9%, and comparable sales for U.S. stores declined 7.1%.
“There is still a great deal of pressure in the housing and home improvement markets, though there are some positive signs of stabilization,” CEO Frank Blake said.
At the end of the third quarter, The Home Depot had 2,242 retail stores.