Home Depot Better off than Expected

While the going is certainly not easy for Home Depot, especially in the wake of the sagging house market and the consequential lack of demand for home-related goods, the situation may not be as bleak as it once looked for the company. According to Home Depot, the worst part of it has come and gone, but the company also predicts rough sailing for the rest of the year.
 
Home Depot has closely monitored foreclosure rates and has expressed its frustration about the fact that 26 percent of its store base is located in the seven states in which foreclosure rates actually increased in the first quarter. In areas where the foreclosure rate has been slowing down, Home Depot reports a similarly positive impact on sales.
 
The retailer has used innovation to help combat the drop in sales, capitalizing on the do-it-yourself trend by holding classes for prospective home improvers. Home Depot has also boasted improved customer service, certainly one more way to attract customers in an economy where a home improvement chain will most definitely struggle.

(Image:Flickr)