Social Media     

 Connect with us!
Connect with Supply House Times on Facebook, Twitter, YouTube and LinkedIn

Latest News

Feb. 26, 2008 - Home Depot Reports First Annual Sales Decline

February 26, 2008
/ Print / Reprints /
/ Text Size+

As homes go so goes Home Depot. In a fourth-quarter earnings report today, the home improvement giant said its annual sales in 2007 dropped 2 percent, marking the company’s first-ever yearly sales decline.

Sales in 2007 were $77.3 billion from $77.3 billion in 2006. What’s more, the 2007 sales figures included a 53rd week. Excluding that week, sales would have declined by 3.5 percent. Same store sales fell almost 7 percent.

For 2008, the company is expecting a sales decline of 4-5 percent and plans to open fewer stores – 55 down from 100 last year.

For the fourth-quarter, Home Depot’s profits fell 27 percent to $671 million. In 2007, the company earned $4.4 billion, down 24 percent from 2006.

January sales of existing homes declined 0.4 percent to an annual rate of 4.89 million, according to a report yesterday by the National Association of Realtors. That’s the lowest pace since the group started keeping track in 1999. In other housing news, home foreclosures jumped 90 percent last month, according to a report today from RealtyTrac.

Did you enjoy this article? Click here to subscribe to Supply House Times.
You must login or register in order to post a comment.



Image Galleries

BNP Media's Plumbing Group Visits Grundfos North American Headquarters

BNP Media’s Plumbing Group, comprised of the Plumbing & Mechanical, Supply House Times, PM Engineer (pme) and Reeves Journal brands, recently visited Grundfos’ new North American headquarters building in the western Chicago suburb of Downers Grove, Ill.

5/7/13 2:00 pm CST

How To Use Your Strengths To Fight The Threat Of Amazon Supply

AVAILABLE ON DEMAND A new 8,000 lb. gorilla, Amazon Supply, has taken aim at many of the customers of PHCP supply houses. Supply House Times columnist Dick Friedman, an authority on business planning and the strategic use of inventory, warehouses and technology will present strategies and tactics for you to compete with Amazon Supply.


Supply House Times

April 2014

2014 April

In the April issue of Supply House Times, there is much focus on young professionals in the distribution industry. Find out who is being recognized as this year's Young Executives for the American Supply Association and read who will be taking over Aaron & Co. when it's current owners retire. Read about Central Plumbing Specialties' recent expansion, catch up on the latest news from the distribution industry as well as the latest products!
Table Of Contents Subscribe

Supply House Times Poll

Trade Associations

Are trade association memberships and participation beneficial to your company?
View Results Poll Archive

The Supply House Times Store

2014 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.

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.


facebook Twitter Updated icon Youtube Updated icon    LinkedIn Updated icon