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Home Depot: Home-improvement conditions worsened

Posted on May 20, 2008

From the WSJ: Home Depot's Net Falls 66% As Homeowners Cut Projects Home Depot Inc. reported a 66% drop in fiscal first-quarter net income, thanks in part to restructuring charges, as it continues to suffer amid economic conditions that have been discouraging homeowners from spending on home-improvement projects.... The housing and home-improvement markets remained difficult in the first quarter. In fact, conditions worsened in many areas of the country, Chairman and Chief Executive Frank Blake said. This is not a surprise. And it could get much worse....

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housing , markets