Latest News

July 10, 2007 - HD Supply Sale Cuts Into Home Depot Profits

Home Depot lowered its profit forecast yesterday and now expects earnings per share to fall as much as 18 percent this year and annual sales to fall for the first time in the company’s history.

One reason the company cited for the drop in earnings and revenue is the pending $10.3 billion sale of HD Supply. The company released a revised outlook yesterday, reflecting HD Supply as a discontinued operation.

HD Supply would have accounted for 18 cents a share in earnings in the second half of this year, according to the company. The wholesale business also generated about 14 percent of total sales.

Home Depot expects overall sales to drop between 1 percent and 2 percent this year after subtracting the $12 billion in sales HD Supply contributed to the top line. The company also says it expects declines in the mid-single digits for comparable-store sales.

The company also said the weakening U.S. housing market was another factor in the earnings drop. The nation’s home sales in 2007 will fall to their lowest level since the start of the housing boom in 2001, according to a forecast issued yesterday by Freddie Mac.

Did you enjoy this article? Click here to subscribe to Supply House Times. Stay connected with us via social media.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

A pictorial look at Supply House Times' travels in the early part of 2015

Industry events are in full swing. Here’s a pictorial look at Supply House Times’ travels in the early part of 2015.

4/30/15 2:00 pm EDT

Optimizing Variable Flow Pumping for Energy Savings

This session will help engineers ensure they are able to understand the many control modes that are possible with today's modern variable speed pumps to maximize their energy savings. 

Supply House Times

march cover

2015 March

SHT's February issue features cover story: Woman-owned American Precision Supply is an industrial PVF success story and the features: Women in Industry: 2015; Manufacturers enthused after record-breaking 2015 AHR Expo; Planning ahead at the ASA Winter Leadership Conference; and Green products abundant at Design & Construction Week 2015.
Table Of Contents Subscribe

Where do you look for new employees?

Where do you look for new employees?
View Results Poll Archive

The Supply House Times Store

2015.jpg
2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

CS-OflRGBhomepage.jpgWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

STAY CONNECTED

facebook Twitter Updated icon Youtube Updated icon    LinkedIn Updated icon  Google+

Premier 125

Premier 125 button

The information SUPPLY HOUSE TIMES uses to rank the Premier 125 is the most accurate we can gather. It is primarily based on responses to a questionnaire we send to the wholesalers in our database, supplemented with information obtained from industry reports and estimates.