Will the home depot be next to file bankruptcy?
- Tuesday, November 18, 2008, 4:59
- 3,399 views
- 3 comments
According to Mike Maynard writing for marketwatch.com, home depot quarterly sales are down 6.2% with a reported net income of $756 million which is down from $1.09 billion.
Does this mean Home Depot is in trouble? There’s no talk to indicate the possibility that Home Depot might go the way of Circuit City but one wonders which big company will be the next to file Chapter 11 with the ongoing financial crisis and talk about “Great Depression 2″ already coming with a predicted time frame by which it is going to happen.
Marketwatch reports that Home Depot is focused now on controlling expenses and “honing in on their capital”. They are not right now looking to open new stores with sales uncertain given the present economy. Once these companies start talking about honing in on capital and not opening new stores bankruptcy talk cannot be far behind.
doug said:
I hope so they are a waste of space
January 17th, 2009 at 2:43 am
Rodney said:
Doug, Have you been in a Lowe’s lately. No competent workers in the building. At least at HD you have people that know what they are talking about. Lowe’s on the other hand has 20 year olds making $18 plus an hour to walk around. What is wrong with or society?
January 18th, 2009 at 7:17 pm
Patrick said:
Lowe’s has twenty year olds making 18 plus an hour???? Sign me up!!! I hardly think so, anyways I have both a Lowes and Home Depot in my town I will always go to Lowes first as they have better employee’s, better prices, better stock, and far better quality. Home Depot has been on the decline for a few years now.
January 20th, 2009 at 5:07 pm