Deficit

Home Depot has announced the figures for the second quarter of 2009. These show that sales of US $ 19.071 bn were 9.1 per cent down on the same period last year (-8.5 per cent in same-store terms). Net earnings dropped 7.2 per cent to US $ 1.116 bn. The world’s biggest DIY retailer had 2 240 outlets in operation at the end of the quarter. Home Depot completed the first half of its fiscal year with a sales decline of 9.4 per cent to US $ 35.246 bn, while profit went down 4.6 per cent to US $ 1.630 bn. The management expects sales to be down by around 9 per cent for the full fiscal year.