The 2020 Mid-Year Economic Update_long

Home Depot Sales Down 3.5% in 3Q


Home improvement retailer The Home Depot, Atlanta, GA, reported third quarter 2007 profits of $1.1 billion, compared with $1.5 billion, or $0.73 per diluted share, in the same period in fiscal 2006.
&nbsp ;
Sales for the third quarter were $19 billion, a 3.5% decrease from the third quarter 2006, reflecting negative comparable store sales of 6.2%, offset in part by sales from new stores.
&nbsp ;
The sale of HD Supply was completed on Aug. 30, 2007, and the company reflects the results of HD Supply as a discontinued operation. The operating results and financial impact of the sale of HD Supply are listed as a one-line item on the income statement. Earnings from discontinued operations were $20 million, down 26.8%.
&nbsp ;
We are facing a tough environment as ...

Home improvement retailer The Home Depot, Atlanta, GA, reported third quarter 2007 profits of $1.1 billion, compared with $1.5 billion, or $0.73 per diluted share, in the same period in fiscal 2006.
&nbsp ;
Sales for the third quarter were $19 billion, a 3.5% decrease from the third quarter 2006, reflecting negative comparable store sales of 6.2%, offset in part by sales from new stores.
&nbsp ;
The sale of HD Supply was completed on Aug. 30, 2007, and the company reflects the results of HD Supply as a discontinued operation. The operating results and financial impact of the sale of HD Supply are listed as a one-line item on the income statement. Earnings from discontinued operations were $20 million, down 26.8%.
&nbsp ;
We are facing a tough environment as housing indicators continue to deteriorate. Our financial performance in the third quarter reflects these tough conditions,” said CEO Frank Blake.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.