Home Depot still in the red

In the second quarter of 2007 Home Depot realised US $ 22.2 bn (€ 16.46 bn), which is 1.8 per cent less than the same period last year. A drop of 5.2 per cent was recorded in like-for-like terms. Operating profit was 12.3 per cent down at US $ 2.557 bn (€ 1.896 bn), and net earnings declined by 14.8 per cent to US $ 1.587 bn (€ 1.177 bn). The figures for the first six months look even worse. Sales declined by 3.0 per cent to US $ 40.729 bn (€ 30.2 bn), operating profit at US $ 4.299 bn (€ 3.188 bn) was 18.5 per cent below last year’s level, and net earnings slipped 21.3 per cent for a total of US $ 2.633 bn (€ 1.952 bn).