Sales down in the retail segment

Home Depot’s sales for the first quarter of 2007 totalled US $ 21.6 bn (€ 15.88 bn), an increase of 0.6 per cent over the same period last year. The company’s sales in the retail segment fell by 4.3 per cent to US $ 18.5 bn (€ 13.6 bn), while sales in its supply segment grew by 46 per cent to US $ 3.1 bn (€ 2.28 bn) thanks to acquisitions. “The housing market continues to be a challenge, and erratic weather conditions across the United States negatively affected our spring selling season,” Home Depot’s CEO Frank Blake commented regarding the trend. Operating profits were down by 24.2 per cent to US $ 1.835 bn (€ 1.349 bn) and net profit down 29.5 per cent to US $ 1.046 bn (€ 769.09 mio).