Home Improvement Retailers Slow Sales Declines

Washington, DC, Jan. 15, 2009—December sales at home improvement retailers fell 5.5 percent in December, a significant improvement from November.

Sales were down about 14 percent in November from a year earlier, according to the statistics released by the U.S. Census Bureau.

Piper Jaffray analyst Mitchell Kaiser said companies such as Lowe's Cos. Inc. and The Home Depot Inc. may have gotten a small December boost from colder temperatures that swept much of the country, sending shoppers to stores to buy shovels, ice-melting salt and insulation products.

Analysts expect a profit of 16 cents per share for Home Depot and 12 cents for Lowe's.