WisBusiness: Home Depot to close three state stores


Home Depot announced this morning it will shut down 15 “underperforming” stores around the nation, including three in Wisconsin. The Wisconsin locations affected are in Milwaukee, Fond du Lac and Beaver Dam.

The closings will cost a total of 1,300 employees their jobs, but the company did not say how many workers will be affected in Wisconsin.

The weak housing market gave Home Depot its first annual sales decline and lowered profits by about 24 percent for 2007.

The company posted net income of $4.4 billion on $77.3 billion in sales, compared with net income of $5.8 billion on $79 billion in sales in 2006.