In the red

Home Depot recorded sales of US $ 21.0 bn (€ 14.2 bn) in the second quarter of 2008, which means a drop of 5.4 per cent on the same period last year. Like-for-like sales were 7.9 per cent down. Net profit dropped 24.3 per cent to US $ 1.2 bn (€ 814 mio). For the first six months Home Depot reports a 4.5 per cent drop in sales to US $ 38.898 bn (€ 26.37 bn). Net profit dropped 40.8 per cent in this period to US $ 2.633 bn (€ 1.785 bn). Chairman and CEO Frank Blake expects sales for the full 2008 business year to be down by approx. 5 per cent.