Home Depot Reports 66% Quarterly Profit Drop

May 20th, 2008

Earnings fell precipitously in the quarter ending May 4 to $356 million, or 21 cents a share, from $1.05 billion, or 53 cents a share, in the prior year.  The results included a charge of $543 million to close 15 underperforming stores and eliminate 50 planned new store openings.  The New York Times  (May 20, 2008)

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