DIY giant Home Depot’s sales plummeted 9.1% to $19.1bn (£11.7bn) during its second quarter. Like-for-like sales were down 8.5%.
“Concerns about the housing market, rising unemployment and softness in the overall economy continue to pressure consumers,” said chairman and chief executive Frank Blake. “Our business performed well in a down market, we captured market share and drove operating productivity.”
For this year as a whole, the retailer expects sales to fall 9% and earnings per share from continuing operations to decline between 15% and 20%.