Home Depot?s Profit Off 66%

It appears you won't be doing too much home improvement if You don't have access to home equity to add that fancy kitchen You don't have confidence your home's value is going to increase with improvement That's what I'm getting from Home Depot's staggering 66% drop in quarterly profit which is blamed squarely on the housing downturn that has taken the wind of out consumer spending on home improvement projects (for the above-two reasons). From Market Watch on the disaster quarter for Home Depot: Home Depot Inc. reported Tuesday that first-quarter net income fell 66% after consumers hurt by the declining housing market curtailed home-improvement spending and by costs it incurred to close stores and abandon some new openings in its pipeline. On a conference call with analysts, Chief Ex