Home Depot expects profit decline in 2007
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Retailer Home Depot Inc.  said on Wednesday it expects per-share profit to fall this year as the U.S. housing slump hurts sales and it increases spending on its stores.
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Office products retailer Office Depot Inc. on Wednesday reported a decline in third-quarter profit due to softening in its European business, disruptions associated with the hurricanes in the southeastern United States, and lower-than-expected back-to-school sales.
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Home Depot Inc  said on Tuesday that it would sell its wholesale supply business to buyout firms for $8.5 billion -- 17 percent less than previously agreed upon -- as the slumping housing industry and recent credit crunch forced the renegotiation of the deal.
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NEW YORK -- Sears Holdings Corp., the biggest US department store company, and Home Depot Inc. said profit will fall as the decline in housing prices hurts demand for goods to build and furnish homes.
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Home Depot Inc.  posted a 28 percent drop in fourth quarter profit on Tuesday as the weak U.S. housing market depressed sales at its retail stores.
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Strained by an ailing housing market and credit woes, the economy in 2007 will log its worst growth in five years and be somewhat sluggish next year, according to one forecast.
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Home improvement retailer Home Depot Inc.  on Tuesday cut its 2007 earnings outlook, citing weakness in the U.S. housing market, and said it was launching a tender offer for 250 million shares.
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ATLANTA -- The Home Depot Inc. , the world's largest home improvement chain, yesterday distanced itself further from the strategies advanced by former chief executive Bob Nardelli, saying it will consider shedding a unit serving contractors, builders, and other business customers.
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The Home Depot Inc. reported a nearly 19 percent jump in second-quarter profit on record sales as it benefited from strong performance in stores open at least a year. It also raised its earnings outlook for the year.
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Home improvement retailer Home Depot cut its 2007 earnings outlook on Tuesday, citing weakness in the U.S. housing market and said it was launching a tender offer for 250 million shares.
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Best Buy Co., the nation's largest consumer electronics retailer, lowered its 2008 profit estimate yesterday. It blamed a softening economy that's steering shoppers away from high-margin items such as flat-screen TVs.
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Home improvement retailer Home Depot Inc , pressured by continued weakness in the U.S. housing market, is expected to ramp down new-store openings this year and boost spending to maintain existing outlets, an analyst said on Friday.
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Home improvement retailing leader Home  Depot Inc. HD.N on Tuesday reported a 15 percent rise in  third-quarter profit, topping estimates, aided by sales in its  installed and professional businesses.
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U.S. home goods retailer Bed Bath &  Beyond Inc  posted a lower quarterly profit on Thursday  and warned its fourth-quarter results would be lower than  expected, sending its shares down almost 10 percent.
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U.S. home goods retailer Bed Bath & Beyond Inc  posted a lower quarterly profit on Thursday and warned its fourth-quarter results would be lower than expected, sending its shares down almost 10 percent.
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US home improvement chain Home Depot says a US housing market slowdown led to a drop in profits for 2006.
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Home Depot Inc. HD.N, the world's  largest home improvement retailer, on Tuesday said quarterly  profit rose, topping estimates, as technology upgrades and  other store improvements helped boost sales.