Huffpost Business

Home Depot Profit Falls

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Home Depot Inc., the world's largest home-improvement retailer, posted third-quarter profit that fell less than analysts estimated and repeated its earnings forecast for the year. Sales for 2008 may decline 8 percent, more than the company previously said.

Net income decreased 31 percent to $756 million, or 45 cents a share, from $1.09 billion, or 60 cents, a year earlier, Atlanta-based Home Depot said today. Sales for the three months that ended Nov. 2 retreated 6.2 percent to $17.8 billion, also beating estimates.

Read the whole story at bloomberg.com