August 29, 2007 |
atlanta -- As expected, Home Depot Inc. said Tuesday that it would sell its wholesale supply business to buyout firms for $8.5 billion -- nearly 18% less than previously agreed upon -- as the U.S. housing slump and recent credit crunch forced renegotiation of the deal. The world's largest home-improvement retailer will pay $325 million to keep a 12.5% stake in the supply business, which will be owned by Bain Capital Partners, Carlyle Group and Clayton, Dubilier & Rice.
November 14, 2007 |
A persistently bleak housing environment forced Home Depot Inc. to diminish its financial outlook as the nation's largest home improvement store chain posted a 26.8% drop in its fiscal third-quarter profit. Atlanta-based Home Depot predicted a fall of as much as 11% in earnings a share from continued operations because of "softness in the housing market."
June 17, 2002 |
The Home Depot Inc., the nation's largest hardware and home-improvement chain, has told its 1,400 stores not to do business with the U.S. government or its representatives, the St. Louis Post-Dispatch reported. The General Services Administration just learned of the policy, said Susan McIver of the GSA. "Home Depot has not contacted us, so I've got no idea what their problem is."
September 5, 2007 |
Home Depot Inc. said Tuesday that it expected to repurchase 289.6 million of its shares for $10.7 billion as a result of a tender offer, a little less than halfway toward its goal of buying back $22.5 billion in stock. Preliminary results of the tender offer that ended Friday indicated the nation's biggest home improvement store chain expected to repurchase the shares at $37 a share, using about $8 billion in net proceeds from its sale of HD Supply, its wholesale distribution business, and $2.
June 25, 2002 |
A U.S. judge ended court supervision of Home Depot Inc.'s employment practices after more than four years, finding "enthusiastic" compliance with the settlement of a sex discrimination class-action lawsuit. U.S. District Judge Susan Illston lifted a consent decree requiring the world's largest home-improvement retailer to boost the number of women it hires for higher-level store jobs.
April 14, 1998 |
Home Depot Inc. will open a store called Home Depot Pro, which targets professional housing contractors, in Colma on April 30 as it adds more services to its do-it-yourself home improvement business. The 80,000-square-foot store will sell more lumber, building materials and millwork than a regular Home Depot and will feature a tool rental center instead of kitchen and bathroom design centers.
February 22, 2006 |
Home Depot Inc. said Tuesday that fiscal fourth-quarter profit rose 23%, the biggest gain in two years, on sales of refrigerators, washing machines and kitchen cabinets. Net income climbed to $1.29 billion, or 60 cents a share in the quarter ended Jan. 29, exceeding analysts' estimates. Year-earlier profit was $1.04 billion, or 47 cents a share. Sales rose 16% to $19.5 billion, Atlanta-based Home Depot said. Sales at stores open at least a year, a key measure of retail health, gained 5.5% as U.
December 29, 2004 |
Home Depot Inc., which is seeking to expand its share of the home appliance market, said Tuesday that it would begin selling refrigerators and other items online, something its top two competitors have done for years. The world's largest home improvement retailer said more than 1,800 items would be listed on its website. Home Depot launched appliance showrooms in its stores in 2001 and has become the third-largest seller of home appliances, based on dollar value, it said. No.
March 1, 2007 |
Home Depot Inc. said Wednesday that it would pump $2.2 billion into improving its business this year even as it expected lower earnings and slim sales growth, partly because of a continued slump in the housing sector. The operator of home-improvement centers said that for fiscal 2007 it expected sales growth in the range of flat to an increase of 2%, a decline in sales at stores open at least a year in the middle-single-digit percentages and an earnings-per-share decline of 4% to 9%.
March 9, 2005 |
A federal appeals court Tuesday threw out a $5.7-million verdict against Home Depot Inc. and its partners who were accused of improperly copying a California man's design for a Christmas tree stand. The Court of Appeals for the Federal Circuit in Washington said the finding by a federal jury in May 2003 was "not supported by substantial evidence" and ruled against Decorations for Generations Inc., a closely held company in Turlock, Calif.