Home Depot

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Dour Housing Market Slams Home Depot Q4 Results

Profits drop 27%, and the company says 2008 isn't looking very bright

(Newser) - Continuing US housing market woes, showing no signs of letting up, helped drag Home Depot’s fourth quarter profits down 27% over the same quarter last year, to $671 million from $925 million. The world’s largest home-improvement retailer also predicted fiscal-year earnings will drop 19% to 24%, more than...

Retailers Bully Shoplifters for $$
Retailers Bully Shoplifters for $$
Feb 20, 2008 2:00 PM CST

Retailers Bully Shoplifters for $$

'Civil recovery' systems using threat of legal action to extort funds

(Newser) - A system designed to compensate retailers for losses incurred by shoplifters has few controls to prevent the extortion or harassment, the Wall Street Journal reports. “Civil recovery” laws allow retailers to turn the names of suspected shoplifters over to collection agencies who demand fees of $200 or much more—...

Dreary Housing Market Nails Home Depot

Third-quarter net income plunges 27%

(Newser) - A weak housing market hammered Home Depot’s third quarter, sending revenues down 4% and cutting net income 27%, reports the Wall Street Journal. The Atlanta-based retailer today said net income fell to $1.09 billion compared to $1.49 billion a year ago. “We are facing a tough...

Activist Investor Amps Up for Sprint Fight

CEO slayer wants change at carrier

(Newser) - Ralph Whitworth isn’t happy with Sprint’s priorities or its management, and he’s one shareholder the wireless carrier can’t just laugh off. The principal of Relational Investors has parlayed small shares in Home Depot and Sovereign into the sacking of those corporations’ CEOs; now he says he’...

Stocks Edge Up in Balancing Act
Stocks Edge Up in Balancing Act
Sep 25, 2007 3:44 PM CDT

Stocks Edge Up in Balancing Act

Retailers’ sales sink as homes out-perform expectations

(Newser) - Stocks rose slightly today as retail woes were somewhat offset by August home sales that outperformed expectations, MarketWatch reports. Led by Microsoft, which rode the release of “Halo 3” to a 1.5% jump, the Dow climbed 19.59 to 13,778.65. The S&P dipped 0.52...

Home Depot Deal Renovated
Home Depot Deal Renovated
Aug 27, 2007 5:37 AM CDT

Home Depot Deal Renovated

Price for wholesale unit slashed

(Newser) - The sale of Home Depot's wholesale supply unit—threatened by the credit crisis —is going ahead after tense negotiations between Home Depot, private equity firms buying the company and banks providing the financing. Home Depot slashed its price 18% to $8.5 billion and guaranteed some of the loans...

Banks Might Derail Home Depot Deal
Banks Might Derail Home Depot Deal
Aug 24, 2007 7:10 AM CDT

Banks Might Derail Home Depot Deal

Private equity threatens lawsuit as financing dries up

(Newser) - The pending sale of part of Home Depot took an ugly turn last night as three banks and three private equity firms entered into a showdown over financing. Home Depot dropped its asking price by over $1 billion, but the banks involved—JPMorgan Chase, Lehman Brothers and Merrill Lynch—have...

Stocks Stall Amid Continued Anxiety
Stocks Stall Amid Continued Anxiety
Aug 23, 2007 4:33 PM CDT

Stocks Stall Amid Continued Anxiety

Traders watch, wait as Fed weighs interest rate cut

(Newser) - The Dow dipped a quarter-point to close at 13,235.88 today as investors continue to fret over the possibility of a Fed interest rate cut. The S&P 500 dropped 1.57 to 1,462.5, and the Nasdaq fell 11.10 to 2,541.70. Home Depot led...

Credit Crunch Hits Bond Market
Credit Crunch Hits Bond Market
Aug 20, 2007 3:36 AM CDT

Credit Crunch Hits Bond Market

Tight corporate borrowing could slow economy

(Newser) - Ripples from the credit crisis have reached the corporate bond market—threatening to slow down the economy by seriously limiting the ability of major corporations to borrow money for new projects,  the Washington Post reports. Credit problems have already begun to bite into the future plans of Hertz, ...

Stocks Take Another Tumble
Stocks Take Another Tumble
Aug 14, 2007 3:50 PM CDT

Stocks Take Another Tumble

Mortgage woes persist, retail down

(Newser) - The markets lost again today, as a small cash manager’s move to halt investor pullouts agitated fears about liquidity, as well as deeper jitters over mortgage woes seeping into credit markets. The Dow fell 207.61 points to 13028.92, dragged down heavily by two major retail components, Wal-Mart...

Market Sinks After Tech Rally Shuts Down

Tech boom erased by mortgage, energy concerns at bell

(Newser) - The tech sector boomed early today, but couldn’t save the market from bank and energy woes at day’s end. Declines in MBIA, Exxon and Home Depot shares helped to erase early gains on the Nasdaq and S&P, and the bankruptcy of Aegis Mortgage Corp. renewed financing worries,...

In Nardelli, Chrysler Found Its Maverick

Cerberus relying on tough-talking new CEO to cut costs

(Newser) - Former Home Depot chief Bob Nardelli has a reputation for being a brusque, hard-edged maverick, and that’s exactly what his new bosses at Chrysler want, Reuters reports. Cerberus Capital Management hopes to stem losses at the automaker by cutting costs, particularly in the delicate area of unionized workers. Nardelli’...

Stewart Lays a Win at Brickyard
Stewart Lays a Win at Brickyard
Jul 30, 2007 6:40 AM CDT

Stewart Lays a Win at Brickyard

Montoya places, Gordon Shows at Allstate 400 in Tony's backyard

(Newser) - Tony Stewart took the Allstate 400 in his home state of Indiana yesterday, two weeks after he snapped a winless streak at the USG Sheetrock 400. The Home Depot driver battled for the lead all afternoon, finally grabbing the checkered flag by a 2.98-second margin over Juan Pablo Montoya.

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