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January 2, 2009

Home improvement stores weather storm

  • Home Depot's shares are down 13 percent and Lowe's is off less than 4 percent, widely outperforming the Dow and S&P 500.
    • By ASHLEY M. HEHER
    AP Retail Writer

    CHICAGO — A year that started poorly got worse for the nation's home improvement retailers, as the housing market meltdown pushed the economy toward recession and financial institutions sparked a global economic disaster.

    But while shares of apparel, home furnishings and electronics retailers plunged as cash-strapped, out-of-work consumers pulled back on spending, shares of the nation's largest home improvement chains — Home Depot Inc. and Lowe's Cos. Inc. — fell only marginally in 2008.


     
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