In a move that has probably never happened in its history, Home Depot (HD) will close 15 stores. It will also cancel the opening of another 50 locations.
According to the company, "These closings will impact approximately 1,300 associates. The store managers and assistant store managers at these locations will be offered other store management positions within the organization. The Company will work to place the rest of the associates in other comparable store positions where available."
The moves should cut capital spending by about $1 billion over the next three years. The company will write-off $400 million due to the action.
Douglas A. McInyre
It’s Your Money, Your Future—Own It (sponsor)
Are you ahead, or behind on retirement? For families with more than $500,000 saved for retirement, finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been carefully vetted and must act in your best interests. Start your search now.
If you’ve saved and built a substantial nest egg for you and your family, don’t delay; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.