Home Depot Looks For Falling Earnings - Cleveland 19 News Cleveland, OH

Home Depot Looks For Falling Earnings

ATLANTA (AP) - Home Depot plans to pump more than two (b)
billion dollars into improving its business this year even as it
forecasts lower earnings and slim sales growth.

The home improvement retailer, struggling with the impact of an
ailing housing market, revealed its outlook as it prepares for
today's annual investor conference.

For fiscal 2007, Home Depot expects sales growth in the range of
flat to an increase of two percent and an earnings per share
decline of four percent to nine percent.

Chief Executive Frank Blake says the company does not expect
residential construction and the housing market to improve until
late in the second half of 2007 or early 2008.

The chain plans to open 115 new stores this year.

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