Home Depot 3Q Profit Falls 31%

The Home Depot Inc., (HD) said Tuesday that its third-quarter profit sank by nearly a third as shoppers scaled back on everything from custom kitchens to lumber and flooring.

Home Depot's profit tumbled 31 percent to $756 million, or 45 cents per share. That's down from $1.09 billion, or 60 cents per share, in the same period last year. Revenue sank 6 percent to $17.78 billion from $18.96 billion. Same-store sales dropped 8.3 percent. Analysts expected earnings of 38 cents per share on revenue of $17.74 billion.

by Mark Anderson | 11/18/08 | Stocks: HD,

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Home Depot 3Q Profit Falls 31%

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