Severe decline

Home Depot has released its results for the third quarter of 2008. The biggest DIY and home improvement retailer announced sales down by 6.2 per cent to US $ 17.784 bn (€ 14.105 bn), amounting to a like-for-like drop of 8.3 per cent. Net profit experienced a decline of 30.7 per cent on the previous year to US $ 756 mio (€ 600 mio). Home Depot recorded sales of US $ 56.681 bn (€ 45.2 bn) over the first nine months, which was 5.0 per cent lower than last year. Net profit for the same period went down by 37.9 per cent to US $ 2.314 bn (€ 1.835 bn).