Mike Finley

I got a call from somebody looking for a job, they work for a company that does the installs of kitchens and baths for Home Depot here. He said Home Depot is not going to do installations of kitchens and baths after Feb 20th. Everyone where he works was notified that would be their last day.

I asked him repeatedly if it was Home Depot not doing installations anymore or the company he is working for won't be working with Home Depot anymore. He said repeatedly Home Depot is getting out of that business.

Not sure if he really knows or is confused.

Anybody heard anything about this? It would probably be time to pop the champaign corks if it's true.

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threaderman

I haven't heard anything but wouldn't that be excellent for the industry if it were the case.Maybe they're tired of being beat up on prices or they're having problems finding quality installers for the pay they offer.

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maverick17

I just got off the phone with a buddy who does tile and hardwood installs for HD here in NE Ohio and he said that was news to him.

He did say that he is unusually slow even for winter, and blames the economy.

Kitchens and baths may be different from flooring though.

Unless Installation is a loss leader for HD (I have no idea of knowing, but doubt it is) unless they do away with the whole kitchen department, I would think they will provide install services, especially when they just sub it out anyway.

bamawildcat

EXPO is closing down, and they are dumping all their subs, but haven't heard about it messing with The Home Depot.

poolcageman

They are also shutting down HD Supply. Here in Florida.

Bodger

Some people don't like what they get from HD installs:
http://www.consumeraffairs.com/homeo...t_kitchen.html

SelfContract

It's true, it's gonna get ugly before it gets... deadly!

Brock

didnt work..says bad link

rbsremodeling

Its you click it again it worked fine for me. Try clicking it with your our hand

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WarnerConstInc.

Well I can tell you that they are dumping the Andersen windows they carry in stock. I just bought 4 double hungs and a Couple big casements for about 75% off. I am thinking about gobbling up the rest when they get marked down as well.

On a side note, HD here in Auburn has 14 400 Series replacement windows 30"x50 3/4" 3 over 1. Right now they are marked down from 500 and change to 117 and change, any one need those?

dubz

I don't think that 500 is an accurate number though. It's like Circuit City putting a big number on their stuff and then a sign saying 60% off. When it's really only 10% (or whatever) off normal price.

Jewelry, furniture, a lot of places do that.

skyhook

THD was only in the install business to sell more materials. The Contractors made most of the money on installs. They were basically trading dollars, with the downturn, they don't need the headaches.

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concretemasonry

With the turndown, there will be fewer customers that want to have a contractor do the work, so the DIYer will still end up buying the materials, but attempting it do it themselves - especially if the are cut back and have more time to do it the slower way.

HD will still get their share of the material sales and maybe more if the customers shy away from the more costly material suppliers.

Our local HD is not as crowded as previously, but the people that are there are serious about buying. The regular department managers are running the rgisters once in a while. The contractor desk is closed, but seems to be in the progress of relocating and redesigned for future purposes and stresses.

This store is older than the local Lowes and is behind in merchandising and "pretty" decorating things and inventory. The HD needs to add on but the dollars to do it are not there now.

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Dick

Bodger

It worked for me just now...have you got something disgusting on your hand?.....

WarnerConstInc.

Trust me that is the price on those windows, the moron that works there ordered them all wrong. Been sitting for about 1 year, I have no use for them but, they are getting to the point of buying them just to have.

Windows there are the same price as the lumber yard around the corner, yes I live one block from my yard, I will gladly pay 25% of new value for any and all windows I can get ahold of.

BKFranks

The website to sign up to be an HD service provider is still up. If they're not doing installs anymore, they'll still take your $50 application fee.

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Teetorbilt

Article in todays paper says THD is laying off 7,000.

Here, the contractors went through a second party out of Orlando.

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rbsremodeling

I don't see it happening. To many reasons for them not to shut it down installation services. I actually think the franchise will do better in this economy especially being able to finance projects

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dan-o

Wishful thinking.
I was contacted re: installing epoxy flooring for HD just last week.

Ed the Roofer

No, not the regular Home Depot stores, just some separate divisions they were trying to buid up.

Ed



http://fe19.story.media.mud.yahoo.co...depot_job_cuts

Home Depot to cut 7,000 jobs, close Expo chain

By ASHLEY M. HEHER, AP Retail Writer Ashley M. Heher, Ap Retail Writer – Mon Jan 26, 4:38 pm ET

CHICAGO – Home Depot Inc. plans to eliminate 7,000 jobs while shutting down its smaller home improvement brands as the recession continues to batter the nation's housing market. Its shares climbed more than 5 percent in morning trading.

The nation's biggest home improvement retailer said Monday the cuts will affect about 2 percent of its 300,000 workers and cause the Atlanta-based chain to record a $532 million pretax charge, mostly in the current fourth quarter, which ends Feb. 1.

Most of the cuts affect workers at Expo Design Centers, YardBIRDS, Design Centers and HD Bath, a bath remodeling business. Combined, the four operate about four dozen locations.

Those chains' stores will close in the next two months. Liquidation sales are set to begin Tuesday morning, executives said.

Home Depot said Expo, a high-end retailer that sells everything from throw pillows, sconces and appliances to stylish bathroom remodels and upscale kitchen makeovers, never performed well financially.

"Even during the housing boom, Expo never reached our financial goals," Chairman and Chief Executive Frank Blake said during a conference call with investors. "During the current downturn, particularly with the significant pressure on high-end decor products and services, Expo's financial performance has further deteriorated. In looking forward we don't see, even with fairly optimistic assumptions, any likelihood that Expo would generate adequate financial returns."
No Home Depot stores are affected.

Chief Financial Officer Carol Tome said the company is finalizing its 2009 outlook and doesn't expect to close any Home Depot stores or make further job cuts during the year.

"In that plan, we see no need to close any of our core stores," she said. "We believed we right-sized the company for the size of the biz we had."
Home Depot's announcement came as the National Association of Realtors said sales of existing homes posted an unexpected increase last month.

The better-than-expected results showed sales of existing homes rose 6.5 percent to an annual rate of 4.74 million in December, from a downwardly revised pace of 4.45 million in November.

Buyers were taking advantage of dramatically lower prices, especially in distressed markets like much of California, Florida and Nevada, where foreclosures have swamped the market.

Home Depot's plans also include 2,000 cuts to non-store jobs, including 500 workers in its corporate headquarters, while freezing the pay of its officers.

Home Depot said it would record an additional $163 million in pretax fourth-quarter charges along with a $55 million post-tax charge related to the 2007 sales of HD Supply.

Stifel Nicolaus analyst David Schick told investors in a research note Monday that he was maintaining his "buy" rating on Home Depot.

"We see the announcements as largely positive," he wrote in a research note, adding that the Expo Design Centers would likely remain unprofitable for at least the next five years. "It is incongruous for (Home Depot) to run that business in the hope of long-term growth while trimming and optimizing the core business."

The retailer also updated its 2008 guidance, saying it expects sales to fall 8 percent for the year while profit tumbles 24 percent when it releases fourth-quarter and full-year results on Feb. 24. Neither figures take into account the charges announced Monday.

Analysts expect the company to earn 16 cents per share on revenue of $14.8 billion for the fourth quarter, while earning $1.73 per share on $71.5 billion for the full year. In 2007, Home Depot earned $4.4 billion, or $2.37 per share, on revenue of $77.35.


The chain said it expects sluggish sales to continue into 2009 and plans to reduce capital spending by about $1 billion. It will open 12 stores in 2009 but hasn't provided further sales or earnings guidance.
Home Depot shares climbed $1.01, or 4.5 percent, to end at $22.73 Monday.

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