Home Depot Closes 15 Stores
Thanks to the ever growing pain of recession and hard times in the world today, the decline in consumer spending for home furniture has forced furniture giant Home Depot to close some of their stores regionally for underperforming.
This financial woes have hit most businesses today. No one in specific is to blame. The times are just hard and people are just trying to avoid overspending with what they have right now. With that in mind, it should not be surprising if other bed and furniture stores follow the lead created by Home Depot.
Home Depot, the world’s largest home improvement chain, says it’s closing 15 underperforming stores and scuttling earlier plans to open 50 others. Disney is closing about 98 stores as it takes back control of its stores from Children’s Place, whose subsidiary had run the Disney Store chain.
The announcements coincided with news on Thursday that consumer spending rose a weak 0.1% in March on an inflation-adjusted basis.
(Source) USA Today
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