Home Depot to close Expo, axe 7,000
January 26, 2009,
Atlanta – Home improvement titan The Home Depot is ending its 18-year experiment in the upscale merchandising segment, closing EXPO as part of a $532 million corporate cutback.
Besides shutting down the 34 EXPO Design Center stores, HD will eliminate five YardBIRDS stores, two Design Center stores and its seven-unit HD Bath chain. Along with cuts to various support and management staff, the total reduction is about 7,000 associates, or some 2% of the 300,000 Home Depot workforce, the company said.
The $77 billion, 2,274-unit retailer said it will reduce capital expenditure to about $1 billion in the coming fiscal year and will open 12 stores.
Related Content By Author
TEN Collection Wows High Point Market
Home Textiles Today eDaily
Most Viewed Articles
See the November 2017 issue of Home Textiles Today. In this issue, we look at Complex Colors, Complex Times--Trend forecasters and interior designers weigh in on 2018 palettes and motifs. Other articles include: Data: Exclusive HTT soft window research; Innovation: Material Changes conference preview; Country report: India invests in the future and Fabrics: Showtime preview.