Home Depot Reports Profit Declined 27%

*In the fourt-Quarter, Home Depot's profit fell more than 27%.

*A slowing housing market
led to the company’s first annual sales decline.

*The company said that the 2008 was expected to be worse in terms of sales and profits.

*The home improvement industry has suffered as consumers pulled back on renovations in the face of declining home values.

* The company was also lagging in costumer service.

* The company said that even thought the looses they plan to add 55 stores this year.

*.Lowe’s reported that its fourth-quarter profit dropped by a third.

* it predicted that sales would improve slightly in 2008 Even with the low house selling market

(((NY TIMES)))